These updates come with a need to comply with regulatory requirements to operate as a licensed operator in Singapore, and the affected tokens are NOT RELATED to any form of security issues nor are they linked to any basis of unlawful activity.
Here’s what will happen 👇
15 June 2020 4pm (SGT): Trading Services (Buy, Sell, Swap) for delisting tokens will come to a halt.
17 June 2020, 4pm (SGT): Wallet Services (Send, Receive, Store) for delisting tokens will come to a halt.
Holding any of these tokens? Here are some options for you👇
1. Sell before 15 June 2020, 4PM (SGT).
2. Swap to tokens that remain supported on Coinhako before 15 June 2020, 4PM (SGT).
3. Send them to another platform or wallet if you wish to continue holding this token, at least 24 hours before 17 June 2020, 4PM (SGT)
Delisted tokens that are not converted or withdrawn by 17 June 2020, 4pm (SGT) will be converted into their corresponding Singapore Dollars (SGD) value, and credited to your Coinhako SGD wallet by 24 June 2020
Trade-only tokens? These will not delist from Coinhako, but will only be available for trading, till a solution can be reached to accommodate to necessary licensing requirements.
We remain open to re-establishing full support for affected tokens; this will be on the basis of meeting the necessary regulatory requirements to operate as a licensed service provider in Singapore.
Cryptocurrency businesses in Singapore have been anticipating the release of a license for many years now, and we are excited to embark on this new chapter with you – as we look to continue our services for our home market for many more years to come.
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All opinions expressed here by Coinhako.com are intended for educational purposes, taken from the research and experiences of the writers of the platform, and should not be taken as investment or financial advice.