One of the biggest cryptocurrency exchanges out there, Bittrex, recently announced it’s going to remove 82 de-listed token wallets later this month to ensure its users have access to cryptocurrencies that meet its strict listing criteria. Some of the tokens being delist have low liquidity, while others reportedly don’t have a functioning blockchain.
The US-based exchange recently announced the move, while warning the tokens will be removed from its platform on March 30. This means users need to withdraw their tokens by then, as the coins won’t be redeemable after they’re removed.
Bittrex further noted that tokens with broken wallets or blockchains won’t allow their users to withdraw, as the coins themselves aren’t working. Most of these cryptocurrencies, including CRBIT and CRYPT, are seemingly not even listed on CoinMarketCap.
Wash trading and price manipulation are somewhat common in the cryptocurrency ecosystem, especially when it comes to low-volume cryptocurrency pairs. As covered by Ethereum World News, Bittrex revealed in November that it would crack down on these schemes.
Being based in the US, the exchange has to register with the Securities and Exchange Commission (SEC) before processing trades involving tokens. The regulator recently ordered cryptocurrency exchanges to either de-list initial coin offering (ICO) tokens, or register with it.