Big news for Canadian crypto enthusiasts! Remember when Uphold, the popular crypto exchange, delisted a bunch of tokens back in 2023 citing regulatory hurdles? Well, get ready to celebrate because Uphold has just announced the relisting of several previously removed cryptocurrencies, including fan favorites like Dogecoin (DOGE), Shiba Inu (SHIB), and Cardano (ADA)! Let’s dive into what this means for you and the Canadian crypto landscape.
Uphold Welcomes Back Popular Cryptocurrencies
On January 25th, Uphold made waves in the crypto community with an exciting announcement on X (formerly Twitter). They revealed the comeback of nine digital assets to their platform for Canadian users. This list isn’t just any list; it includes some seriously popular names! Check out the tokens making their grand return:
- Cardano (ADA)
- Casper (CSPR)
- Dogecoin (DOGE)
- Hedera (HBAR)
- Injective (INJ)
- Kaspa (KAS)
- Shiba Inu (SHIB)
- XDC Network (XDC)
- Stellar (XLM)
This is a significant shift from December 2023, when Uphold had to inform its Canadian customer base about delisting ten tokens, including VeChain (VET) and the ones now being relisted. The initial delisting was attributed to the exchange’s commitment to staying compliant with evolving Canadian cryptocurrency regulations.
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Why the Relisting? Navigating Canadian Crypto Regulations
You might be wondering, what changed? Canada’s stance on cryptocurrencies remains that they are not legal tender. However, Canadians are legally permitted to buy and engage with digital assets, albeit with inherent risks. Uphold’s initial delisting decision underscored the complexities of operating within the Canadian regulatory framework for digital assets.
While Uphold cited regulatory compliance as the original reason for delisting, the specifics behind the relisting remain somewhat under wraps. It’s possible that either regulatory clarifications have been provided, or Uphold has found a compliant pathway to offer these tokens once again. Whatever the reason, it’s a win for Canadian crypto users!
What Does This Mean for Canadian Crypto Traders?
The reinstatement of these cryptocurrencies on Uphold is fantastic news for Canadian crypto traders for several reasons:
- Increased Choice: Canadian users now have access to a wider variety of cryptocurrencies on Uphold, including popular meme coins and established projects like Cardano. This means more opportunities to diversify portfolios and explore different crypto niches.
- Trading Opportunities: With the crypto market potentially gearing up for a bull run in 2024, having access to these tokens on a platform like Uphold allows traders to capitalize on potential price movements and market trends.
- Accessibility via Topper: Uphold has confirmed that these relisted tokens are available through their Topper payment system. This simplifies access for Canadian Topper users, making it easier to buy, sell, and trade these cryptocurrencies via the platform’s widget and partner integrations.
Will BONE Be Next on Uphold? Shiba Inu Community Hopes So!
The crypto community, especially the Shiba Inu faithful, is buzzing with anticipation! Following the relisting announcement, many are now speculating about the potential listing of Bone ShibaSwap (BONE) on Uphold.
For those unfamiliar, BONE is a crucial token within the Shiba Inu ecosystem, alongside SHIB and LEASH. It’s an Ethereum-based token with significant utility within the ShibaSwap decentralized exchange and plays a vital role in the Shibarium layer-2 scaling solution.
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Fueling this speculation is a post from Shib Kind, a prominent Shibarium community account on X. They highlighted a screenshot showing Uphold holding a substantial amount of BONE – over 1 million tokens!
Is @upholdinc about to list $BONE 👀
They hold over 1,000,000 $BONE 👀
Just saying 😉 @ShibariumNet @ShibaInuHodler @LucieSHIB @ShibArmyCanada @badshiba @Shibainuart @iammvp1985 @ShytoshiKusama @Shibtoken @ShibariumTech @BoneShibaSwap @ShibaSwapDEX @ShibKind pic.twitter.com/s1s73JlbL3
— Shib Community (@ShibKind) January 27, 2024
While Uphold hasn’t officially confirmed a BONE listing, holding such a significant amount of the token certainly raises eyebrows. Listing BONE would not only further expand Uphold’s offerings but also tap into the vast and passionate Shiba Inu community, potentially bringing in a wave of new users to their Topper platform. It would also provide Canadian users with even greater access to the Shiba Inu ecosystem.
Looking Ahead
Uphold’s decision to relist Dogecoin, Shiba Inu, Cardano, and other tokens marks a positive development for the Canadian cryptocurrency market. It signals a potentially evolving regulatory landscape and demonstrates Uphold’s commitment to providing a diverse range of crypto assets to its users. Whether BONE will be next remains to be seen, but the speculation alone highlights the dynamic and ever-exciting nature of the crypto world. Keep an eye on Uphold’s announcements – there could be more exciting developments on the horizon!
Disclaimer: The information provided is not trading nor financial advice. Bitcoinworld.co.in holds no liability for any trading or investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any trading or investment decisions.
Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.