Bytecoin no longer available on OKEx

Posted 12 October, 2018

On October 12, Hongkong-based crypto trading platform OKEx delisted Bytecoin (BCN).

The company has posted today a statement on its website notifying about this decision.

"Our regular monitoring of Bytecoin found that the project has been exposed to a critical technical issue that has been left unhandled. To protect the interests of our users, OKEx will delist all BCN trading pairs at 19:00 Oct 12, 2018 (HKT)," the post reads.

The platform informed users that they have to cancel opened orders and withdraw coins to other exchanges or their wallets. According to the report, the withdrawal will be available till November 1. 

At the same time, there are no details about the technical issues that were detected. Moreover, Bytecoin project team is yet to provide official feedback to this move.

Earlier, Binance also decided to delist Bytecoin. In that case, the company stated that they were in talks with Binance about trading resumption.

The exchange maintains non-stop monitoring of the supported coins and decides to delist those that do not comply with the standards.

OKEx also warned in the notice:

"Please be reminded that trading digital assets involves significant risk and make sure you fully understand the mechanism and risk involved."

Previous story

16 October, 2018 13:34

← Fidelity Investment announces new crypto business

The leading asset management corporation – Fidelity Investment – launches an institutional division dealing with bitcoin and Ethereum. The new subsidiary Fidelity Digital Assets will represent a 24/7 platform for crypto trading along with corresponding consulting. The company will number about 100 employees and be located in Boston, USA. The new business is said to offer deals powered by "internal crossing engine and smart order router that will execute trades using multiple third-party cryptocurrency liquidity suppliers." Crypto custodial services are believed to be the most demanded services of the company. As the company noted, this will be physical storages in different locations featuring cold storage of cryptos.

Fidelity Investment announces new crypto business

Next story

12 October, 2018 14:46

US FinCen attacks Iranian attempts to avoid US sanctions via cryptos →

The US Financial Crimes Enforcement Network (FinCEN) has issued a notice asking US exchanges not to support Iran and assist Tehran in using cryptos to avoid the effective sanctions against the country. "The Iranian regime has long used front and shell companies to financial systems around the world to generate revenues and transfer funds in support of malign conduct, which includes support to terrorist groups, ballistic missile development, human rights abuses, support to the Syrian regime, and other destabilizing actions targeted by U.S. sanctions," the report reads. Annual bitcoin turnover by Iran amounts at least to $3.8 million. The volume of the used coins is obviously small in Iran, though "virtual currency is an emerging payment system that may provide potential avenues for individuals and entities to evade sanctions."

US FinCen attacks Iranian attempts to avoid US sanctions via cryptos
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