Crypto exchange Uphold has announced the delisting of Dogecoin (DOGE), Shiba Inu (SHIB), and Cardano (ADA), among other cryptocurrencies, from its platform in Canada. This decision aligns with Uphold's efforts to comply with Canadian cryptocurrency regulations. Specifically, the move adheres to the Pre-Registration Undertaking with the Ontario Securities Commission, a step towards obtaining proper registration in Canada.
The delisting includes 10 cryptocurrencies classified as Tier 3, such as XDC Network (XDC), Kaspa (KAS), Hedera (HBAR), Stellar (XLM), VeChain (VET), Injective (INJ), and Casper (CSPR). Additionally, all Tier 4 tokens in the region will also be delisted. This action is part of a broader regulatory compliance trend, where exchanges are scrutinizing their offerings to align with local regulations.
Interestingly, not all Tier 3 tokens are being delisted, with Bitcoin (BTC), Ethereum (ETH), and XRP remaining on the platform. Uphold users holding affected tokens have a 30-day window to either withdraw these tokens or convert them to other supported cryptocurrencies on the platform. After January 15, 2024, any remaining holdings in these delisted cryptocurrencies will be automatically converted to Canadian Dollars (CAD)