Poloniex will Delist the Tokens that are Securities

in cryptocurrency •  11 months ago

In the light of the recently released SEC report , the  Poloniex exchange  reminded users about its policy of placing tokens on the site. The company respects the laws that apply in the field of crypto-currencies, including US securities laws. The above report reveals the relationship between the securities laws and lock tokens. In this connection, crypto-exchange also intends to test its policy of adapting tokens. The Exchange starts applying the "Howey" test for each token in the listing.

Image Credit: Cryptocurrency.tech

In the process of studying it was discovered that tokens can also be securities. As part of the process of verifying compliance with legislation, to-time tests of tokens in the list will be conducted, which can lead to the delisting of coins. The Exchange intends to continue to monitor US securities legislation. Also, the exchange will check new tokens, which are going to be listed on the site. The exchange does not intend to place tokens, which fit the definition of a security. If crypto-exchange will come to the conclusion that the tokens in the listing are securities, they will be excluded from the list.

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