[2019-05-20] Poloniex delists 9 cryptos for U.S. traders, they may be securities - page 2.

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

Quote from: IconFirm on May 20, 2019, 12:02:03 PM

Oh I dunno. Seeing as the owners are a bunch of corrupt, power crazy, greedy, money grabbing banksters I think it reflects perfectly....lol

That's as maybe, but Circle.com was a superb service and support was near instant the couple of times I had a problem. It looks like they're leaving Poloniex to rot. I presume they have a grand plan that they're not rolling out until far in the future and it's effectively placeholding for now.

IconFirm

hero member

Activity: 1438

Merit: 574

Always ask questions. #StandWithHongKong

Quote from: gentlemand on May 20, 2019, 10:58:40 AM

Am pretty amazed Poloniex is still so shit and appears to be largely unchanged since its acquisition. It doesn't reflect well on its new owners.

Oh I dunno. Seeing as the owners are a bunch of corrupt, power crazy, greedy, money grabbing banksters I think it reflects perfectly....lol

gentlemand

legendary

Activity: 2590

Merit: 3015

Welt Am Draht

I'm not familiar with most of those coins, but NXT's sole purpose for the past few years seems to have been to distribute other coins and have an empty pump while they're at it. That sounds rather security-esque to me.

Am pretty amazed Poloniex is still so shit and appears to be largely unchanged since its acquisition. It doesn't reflect well on its new owners.

vit05

hero member

Activity: 672

Merit: 526

That is not a problem with Poloniex. People are talking like that they have made a mistake or something. They are only following the us law. Probably all the others exchanges that operate in Us will have to make the same. Bittrex has created the international version to scape this rule.

roosbit

member

Activity: 893

Merit: 43

Random coins :)

If you are going to list any coin that comes your way for the $$$$, this is what happens especially if you are now considered a second class exchange...someone needs to pay their bills Roll Eyes

!
All this pressure makes me think these guys need to re-brand for the sake of their public image as soon as possible!

Quote

Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities.

This is a familiar line and they should know better that the US market is a no go. Well if you are to survive in this industry and you in it for the money you need to risk it sometimes especially when the competition is high, this action from poloniex isn't jaw dropping either!

buwaytress

legendary

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Merit: 3684

Join the world-leading crypto sportsbook NOW!

Not that I'll be shedding any tears over those coins (shocked that I actually used to have Lisk haha) but Polo, dear, why not just come clean and tell us why exactly youbdelisted them? Never mind that Ripple, as pointed out by our lovely forumsters, should be most obvious in the lineup for knocking off, but come on, when did you ever worry about having inadvertently offered securities, what about all those already sold?

I'd like to get a reimbursement on them tokens bought circa 2017. Oh but wait, you haven't answered my support tickets from circa 2017 =(

veleten

legendary

Activity: 2016

Merit: 1107

double standards is the name of the game!
they delist 9 coins quoting: "Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities"
do US regulators consider any other cryptocurrencies as securities?
or they just preemptively complying ?
as for Ripple read this: https://www.theblockcrypto.com/tiny/ripples-quarterly-reports-understated-xrp-released-from-escrow-by-84-million/

"According to Coin Metrics, the number of XRP released from escrow has been underreported in two quarterly market reports. The total difference between the reported figures in quarterly reports for Q3 2018 and Q1 2019 and on-chain data equals 200 million XRP (approximately $84 million)."

IconFirm

hero member

Activity: 1438

Merit: 574

Always ask questions. #StandWithHongKong

Poloniex is an absolute joke of an exchange - the amount of shitcoins/shitokens they are listing is proof enough of this, but their customer support is also a shambles.

Quote from: bbc.reporter on May 19, 2019, 11:04:34 PM

There is a double standard occuring in this corrupt system.

This is so true & is what happens when corrupt institutions like Circle/JP Morgan get involved in crypto, greed is the only motivation for them.

BTW - SYS is also delisted, not that I'm surprised after their involvement with the Peermountain scammers & the amount of censorship going on with that coin, plus the $12+ million deficit BCF (BlockChain Foundry) have racked up in the last few months:

https://bitcointalksearch.org/topic/m.50010161

Disclaimer: This is not a stake.com shitpost.

davis196

hero member

Activity: 3164

Merit: 937

Running a cryptocurrency exchange platform under US jurisdiction is a pain in the a$$. Grin

Crypto trading platforms are servants to the SEC and they have to obey to every rule,it doesn't matter if it's right or wrong.I'm not advocating on those coins,but the lack of regulatory clarity leads to big loss.

CryptoBry

sr. member

Activity: 1008

Merit: 355

Quote

The decision is apparently being made after guidance from regulators. Circle is still actively lobbying for crypto assets to be treated differently to more traditional types of asset, but it can't guarantee that this will happen.

What is obvious here is that Poloniex has no choice but to bow down to the wishes of the authorities in the meantime that there is no clear regulatory definition for what is a security in the cryptocurrency space. As to how they arrived at the conclusion for these coins to get delisted, maybe they should tell us more. As to XRP and Stellar, maybe they decided that these two are too big to get delisted and those coins in the list are already enough to please regulators. Of course, we should not be surprised of any double standards here as it can happen anytime anywhere and on many situations.

bbc.reporter

legendary

Activity: 3122

Merit: 1492

What about Ripple and Stellar? I reckon they are the easiest among all cryptcoins listed in Poloniex to be classified as securities controlled by a centralized organization that issues Ripple and Stellar tokens to their partnered banks and other financial institutions.

There is a double standard occuring in this corrupt system.

Poloniex, which was acquired by major payments provider Circle back in February 2018, will no longer be offering U.S. customers trading for the following cryptos: Ardor (ARDR), Bytecoin (BCN), Decred (DCR), GameCredits (GAME), Gas (GAS), Lisk (LSK), Nxt (NXT), Omni (OMNI), and Augur (REP).

The decision is apparently being made after guidance from regulators. Circle is still actively lobbying for crypto assets to be treated differently to more traditional types of asset, but it can't guarantee that this will happen.

According to the exchange's statement, "Today’s action is a result of regulatory uncertainty in the US market. Specifically, it is not possible to be certain whether US regulators will consider these assets to be securities. We understand how frustrating this choice is for our customers, and for the crypto community more broadly".

Read in full https://www.chepicap.com/en/news/9760/poloniex-delists-9-cryptos-for-u-s-traders-as-they-may-be-securities.html

Topic: [2019-05-20] Poloniex delists 9 cryptos for U.S. traders, they may be securities - page 2. (Read 437 times)