Coinbase Announces Delisting of ASM, ATA, DESO, FORT, MCO2, and XYO on May 23

Cryptocurrency exchange Coinbase has announced the removal of several trading pairs for certain supported assets. The delisting is set to take place on or around 9 AM PT on May 23, 2023. The affected trading pairs include ASM-USDT, ATA-USDT, DESO-EUR, FORT-USDT, FORTH-GBP, MCO2-USDT, and XYO-BTC.

Coinbase, one of the world’s leading cryptocurrency exchanges, has long been known for its extensive range of listed tokens. However, in an effort to optimize the trading experience and consolidate liquidity, the platform periodically evaluates its offerings and adjusts them accordingly.

The decision to remove these specific trading pairs aims to concentrate liquidity and enhance trading efficiency on the platform. By focusing on select trading pairs, Coinbase aims to provide its users with improved order book depth and tighter spreads, ultimately benefiting the trading experience.

While the removal of these trading pairs may disappoint some users who have been actively trading these assets, it is important to note that Coinbase constantly evaluates market conditions and user demand to ensure the best possible trading experience.

It is also worth highlighting the limited recognition of non-security assets by regulatory bodies such as the United States Securities and Exchange Commission (SEC). As of now, the SEC has only recognized Bitcoin as a non-security asset, while the status of other cryptocurrencies remains uncertain.

This regulatory landscape creates a complex environment for exchanges like Coinbase, as they must navigate the evolving legal framework while providing a diverse range of trading options to their users. By consolidating liquidity, Coinbase can potentially streamline its operations and mitigate any potential regulatory concerns.

Coinbase’s decision to delist these trading pairs does not necessarily imply that the assets themselves are deemed securities. Rather, it underscores the exchange’s commitment to adapting its offerings in response to market conditions and regulatory considerations.

As the cryptocurrency industry continues to mature, regulatory bodies are working towards establishing clear guidelines for various digital assets. Until a broader consensus is reached, exchanges like Coinbase must carefully assess the legal implications and regulatory environment surrounding each asset before listing or delisting it.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like