Friday, June 21, 2024
HomeCryptocurrencyShiba Inu (SHIB) Faces Delisting On This Top Exchange: Here's why

Shiba Inu (SHIB) Faces Delisting On This Top Exchange: Here’s why

Shiba Inu, the fun and meme-filled competitor to Dogecoin, encountered an unexpected roadblock in the Canadian crypto world.

Uphold, a well-known digital asset platform, decided to bid farewell to Shiba Inu (SHIB) and nine other “Tier 3” assets, causing concern among Canadian holders.

However, amidst the delisting drama, a glimmer of hope appeared for SHIB – a brand-new exchange listing that could soften the blow.

Read Also: Shiba Inu Team Burns 9.35 Billion SHIB As Price Surges To Delete A Zero

Uphold Bids Goodbye to Shiba Inu (SHIB) in Canada

On January 15th, 2024, the story ended for Shiba Ina (SHIB) on Uphold in Canada. The exchange delisted SHIB, Doge, and other “Tier 3” assets, citing regulatory compliance.

This left Canadian SHIB enthusiasts with a time-sensitive situation – either convert their holdings to Canadian dollars or move them elsewhere as soon as possible.

Uphold Canada’s decision to delist SHIB and other “Tier 3” assets is due to its agreement with the Ontario Securities Commission. It’s a regulatory dance, with Uphold navigating the Canadian regulatory landscape to meet registration requirements.

While some may view this as a setback for SHIB in Canada, it also signifies the growing maturity of cryptocurrency regulations in the region.

A Silver Lining: Enter EarnBit

Just as SHIB’s Canadian journey ends on a low note, a new opportunity emerged. EarnBit, a fresh and upcoming crypto platform, warmly welcomed Shiba Inu (SHIB).

It offers Canadian users a new avenue to buy, sell, swap, and even use SHIB for payments at EarnBit-supported locations. This new listing is a lifeline for Canadian SHIB holders, providing them an alternative to the Uphold.

Uphold’s decision sheds light on the changing regulatory landscape in the crypto world. It also reminds investors of the importance of diversification, encouraging them to spread their holdings across multiple platforms to reduce risk.

Read Also: Shiba Inu Lead Dev Reveals Plans To Make SHIB Take Charge of the Internet


What About SHIB’s Future?

The Uphold delisting may sting, but let’s keep things in perspective. The broader Shiba Inu (SHIB) ecosystem remains vibrant, with numerous exchanges, communities, and projects actively driving its growth. And with new listings like EarnBit appearing, the Canadian chapter of the SHIB story is far from over.

While the recent changes in Canada may leave some SHIB holders feeling uneasy, it also showcases the adaptability and resilience of the crypto community. New opportunities arise constantly, and for those willing to navigate the ever-changing landscape, the future of SHIB (and crypto in general) remains promising.

Follow us on Twitter, Facebook, Telegram, and Google News

Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.

Latest News & Articles