The Canada-based cryptocurrency exchange, Uphold, has announced that it will be delisting Cardano, Shiba Inu, and Dogecoin from its platform. This decision comes as a result of regulations imposed by the Ontario Securities Commission, prompting Uphold to undergo proper registration in Canada. In addition to these three popular cryptocurrencies, Uphold will also be removing seven other digital assets, including VeChain and Injective, in order to comply with regulatory requirements.
Despite the delisting of these cryptocurrencies, Uphold will continue to trade Bitcoin, Ethereum, and XRP. Users will no longer be able to purchase or deposit the delisted tokens, and they will have until January 15, 2024, to sell their assets or face automatic conversion to Canadian dollars. Uphold’s decision to delist these cryptocurrencies reflects the challenges faced by cryptocurrency exchanges in navigating regulatory requirements in various jurisdictions.