Coinbase has announced the removal of ASM/USDT, ATA/USDT, DESO/EUR, FORT/USDT, FORTH/GBP, MCO2/USDT, XYO/BTC trading pairs. The formal reason for the delisting was the consolidation of assets – the removal from the site of little liquid assets and related trading pairs.
To consolidate liquidity, we will be removing a number of trading pairs for certain supported assets.
We will suspend trading on the following markets on or around 9AM PT on 23 May 2023:
ASM-USDT, ATA-USDT, DESO-EUR, FORT-USDT, FORTH-GBP, MCO2-USDT, XYO-BTC
— Coinbase Exchange (@CoinbaseExch) May 22, 2023
From the side of the crypto community, Coinbase’s actions were regarded as an “act of cleaning” and strengthening the position of the exchange against the backdrop of a new level of intensity of litigation with the US Securities and Exchange Commission (SEC).
Almost immediately after the delisting of the above trading pairs, Coinbase filed a counterclaim against the regulator. In its filing, Coinbase draws the court’s attention to the SEC’s deliberate continuation of its anti-crypto industry campaign and the agency’s disregard for rule-making tasks related to digital assets.
Late last night Coinbase replied in the Third Circuit to the SEC’s arguments against our petition for a writ of mandamus. Mandamus is the tailor-made remedy for the extraordinary facts presented here. We continue to appreciate the Court’s consideration. https://t.co/OD02kX3524
— paulgrewal.eth (@iampaulgrewal) May 23, 2023
About a month ago, Coinbase CEO Brian Armstrong stated that the exchange would consider exiting the US if regulatory uncertainty persists.
Source: Bits
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