Decent.Bet (DBET) token delisted from Cryptopia
For your attention: The Decent.Bet (DBET) token has been delisted from Cryptopia. It was obviously a security token since it offered regular payouts from the house profits.
https://www.reddit.com/r/decentbet/comments/8mns5m/notice_cryptopia_delists_dbet_due_to_nz/
Dear Cryptopians,
You are receiving this automated email because we have identified that you have a balance or deposit address for one or more of the following coins.
Cryptopia is registered as a Financial Service Provider in New Zealand. This registration only allows us to list coins that are not ‘Financial Products’ on our exchange. The concept of a “Financial Product” under New Zealand law is similar (but not identical) to that of a ‘Security’ under US law (and equivalent definitions in other jurisdictions).
We continually review and update our operations to ensure we remain compliant with our legal obligations. Cryptopia is committed to ensuring we are compliant so we can remain a responsible company both under New Zealand law and in order to meet our own ethical standards.
As a part of ensuring that we remain compliant, and on the basis that we are not permitted to list financial products, we must delist all coins that are, or are likely to be, financial products according to New Zealand law.
The coins set out below have all been put into delisting:
Aureus (AURS)
Bitradio (BRO)
ChronosCoin (CRX)
DCORP (DRP)
DDF (DDF)
DecentBet (DBET)
LFTCCoin (LFTC) *
ProudMoney (PROUD)
OX Fina (OX)
21Million (21M)
BitcoinDark (BTCD)
BlockOptions (BOP)
Bonpay (BON)
NeuroDAO (NDAO)
CrowdCoin (CRC)
DigiPulse (DGPT)
DRP Utility (DRPU)
EncryptoTel (ETT)
Futereum X (FUTX)
HomeblockCoin (HBC)
InterstellarHoldings (HOLD)
Lithiumcoin (LIT)
MatrixCoin (MATRX)
PlexCoin (PLX)
TenX (PAY)
*These coins currently have 0 connections, and there is likely to be issues withdrawing funds. This is beyond the control of Cryptopia, and needs to be followed up with the coin developers.
We wish to notify our users of the following process:
As of today (28/05/2018) the markets for trading these coins on Cryptopia are closed.
To ensure your holdings are off the exchange before the coins are removed, please close any open orders and withdraw your coins from the exchange immediately.
These coins will be fully delisted and removed from the Cryptopia site one month from today (last day on the exchange being 28/06/2018).
Whilst this may cause some inconvenience, these coins are being delisted to ensure we remain compliant under New Zealand law.
It is possible we may delist further coins that we consider may be financial products in future.
Kind regards The Cryptopia
Now, there's really only ONE exchange where you can trade these things, HitBTC which you must have a registered account to withdraw. With the removal of Cryptopia, the DBET tokens now have a 24hr volume of a meager $150k USD/day and a market cap of ~$30M. I was hoping for some bullish price action with all the promised "good news" and shilling lately by the team, but I'm quite skeptical now. It's very risky for licensed exchanges to offer security tokens and stay in business.
My advice? Sell all of your security tokens, including DBET. They are too risky.
Peace,
Ashe
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Is this the right move to delist so early these tokens?
The roadmap of this dbet coin was not convincing to me tho.. Your advice should be taken serious.
It's been a while ashe.. Greetings from this silly lad
I guess that this will put extra pressure on the value of these coins. And most of them are already undergoing the bears market.
I wish all the holders much of strength!
So, quick off-topic question:
Which character in Atlas Shrugged do you most identify with?