Huobi Places 32 Digital Assets on ‘Probation’ for Possible Delisting
The team at Huobi has announced a list of 32 digital assets that the exchange might consider placing on the ‘ST’ risk category. ‘ST’ indicates that the digital asset is at risk of delisting by Huobi due to an infringement of the exchange’s token administration regulations. However, the 32 affected digital assets have for now only been issued a warning due to insufficient trading volume. The exchange went to give the following explanation as to why they were issuing the warning:
In order to promote the healthy development of the blockchain industry and protect the legitimate rights and interests of investors, Huobi regularly carries out comprehensive reviews of the listed tokens in accordance with the Token Administration Regulations of Huobi. According to the results of the review on December 20 (GMT+8) 2018, the following tokens are warned of “ST”risks due to insufficient trading volume.
Huobi To Reexamine The Digital Assets on the 26th of December
However, the team at the exchange stated that they will be reexamining the mentioned digital assets on the 26th of December this year. Those that meet Huobi’s Article 16 on handling digital assets, will have the ‘ST’ tag added on their trading pairs.
Article 16 of Huobi‘s Token Administration Regulations states that the exchange has a right to issue ‘ST’ warnings to notify traders of the risks involved with trading related to a particular digital asset. The ‘ST’ tag is given to tokens whose projects have been reviewed by Huobi and failed to fulfill the following conditions.
Project teams fail to update the quarterly report on time or fail to update the semi-monthly reports for twice in succession as scheduled even fail to update it within 7 days after being notified to do so
In 15 consecutive days, none of the trading pairs of the tokens has an average daily trading volume larger than $50,000 or other equivalent token
It is considered necessary to mark “ST” through the comprehensive evaluation of inquiry, regular review, special investigation or on-site investigation
Other situations identified as serious violations of the Regulations by Huobi.
What are your thoughts on Huobi giving a warning to place 32 Digital assets under its ‘ST’ category due to low liquidity? Please let us know in the comment section below.
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