It’s a known fact that regulation in the crypto space is really tricky.
More regulation is needed to attract more investors in the crypto space because, for instance, institutional investors would gain enhanced trust if there were more regulation in the crypto game.
And we’ve already addressed the fact that institutional investors are an essential ingredient in the quest for crypto mass adoption.
On the other hand, the ecosystem’s lack of certainty has been forcing some players to take caution and guard against the changing landscape.
Gate.io to delist important coins
Such an initiative has been taken by Gate.io. The exchange revealed that they plan to delist a few essential cryptos such as EOS, Monero (XMR), and XRP.
The official announcement read that some digital coins will not be available to U.S. users starting from June 30, due to regulatory uncertainty:
“Starting from June 30, 2019, USA users cannot access to deposit and trading of the following coins: CNYX, EOS, XRP, TRX, XTZ, BTM, NAS, QTUM, NEO, GAS, XMR, BCN, XEM, WAVES, DCR, ONT, ONG, THETA, and TFUEL. These coins will no longer display on the Market list to USA users after Jun 30. If you are a USA user, please withdraw them as soon as possible.”
It also seems that this decision that’s been made by the exchange will not affect users who are not in the US and they will continue to have full access to the coins mentioned above without having to deal with any changes.
Bittrex to delist cryptos as well
AMBCrypto notes that it’s pretty interesting that Bittrex decided to do something similar a few days ago.
Bittrex announced that it would be delisting the following coins, namely, ADT, CMCT, GO, MFT, QRL, XEL, AMP, DNT, GTO, and 23 other cryptos, starting from June 21.
Just the same way as Gate.io, they said that the change would only be applicable to users who are residing in the U.S.