Last Updated on: 25/07/2021

About Listing/Delisting Policy for Coins

As a measure of self-governance ,  BuyUcoin‘s Listing / delisting policy (“The Policy '') outlines a broad framework of criteria / principles / procedure applicable in listing / delisting of coin.

Objective

• To safeguard the interests of BuyUcoin, its investors and its users by listing only legitimate coins.

• To provide a safe trading environment to the users of BuyUcoin.

• To provide clear and transparent listing /delisting criteria , principles and procedure of proposed or listed coins on BuyUcoin Platform.

Listing of Cryptocurrency - Procedure

At BuyUcoin we are on our toes to onboard promising and exciting crypto projects. For this we have devised a listing procedure. It starts when BuyUcoin selects a Coin proposed by a Coin issuer or any BuyUcoin user by submitting listing requests. To submit a listing request, the project has to fill a  BuyUcoin ‘s Coin Listing Request. The Legal Team with Marketing Team conducts internal due diligence, Kyc compliance, market analysis and other applicable processes for evaluation of listing requests. In both cases, Both the Teams reserves the right to approve or reject the listing of coins. If it approves the listing it will inform the users of the platform within a reasonable time.

Evaluation Criteria for listing of coin

• Credibility of Coin issuer in Crypto industry and relevant trade associations.

• Assessment of business and team of Coin issuer

• Innovation involved in Coin.

• Market capitalisation of Coin

• Trading volume of Coin

• Liquidity of Coin.

• Marketing flexibility to BuyUcoin post listing.

• Legal compliance (including but not limited to tax laws, fiscal laws , etc ) to Coin and Coin issuers.

• Project’s geographic location and its implication on AML and other policies of the Company.

• Security testing and indemnity – pre and post listing.

• Openness, distribution and transparency of the ledger

• Developer Community and open code.

• Any other technical, financial, and business criteria which deem fit.

Delisting of Cryptocurrency - Procedure

At BuyUcoin, our team of researchers periodically review each digital asset we list to ensure that it continues to meet the high level of standard we expect. When a coin or token no longer meets this standard or the industry changes, we conduct a more in-depth review and potentially delist it or just some of the pairs of that token. We believe this best protects all of our users' interests. Delisting of coins or currency pairs can be voluntary delisting, if the coin issuer decides on its own to delist the Coin and applies to BuyUcoin for delisting of its coin. It can be compulsory if BuyUcoin does Suo-motu as a penal measure in the interest of investors.

Evaluation Criteria for delisting of coin

• Any form of non-compliance to the legal frameworks

• Lack of support or commitment by the project, the team, or the foundation (if the project is part of).

• Lack of network stability or stability of smart contracts.

• Lack of quality development activities.

• Grievance by end users of Coin.

• Lack of standard disclosures and public communications.

• Fraudulent or unethical behaviour by coin issuer or users.

• Depletion in trade volume and market capitalisation.

• Nexus of Coins with Terror or other anti-social activities.

• Violation of terms of use or Coin listing agreement, if any.

• Loss of credibility by the Coin or the Coin issuer in the trading community.

• Adverse image of coin or coin issuer in social media.

• Coin become outdated and less liquid in nature.

• Technology on which the Coin is built becomes obsolete.

• Business and economic risk linked with the coin or the coin issuer to BuyUcoin or the entire Crypto ecosystem.

• Any other reasons, BuyUcoin Team may deem fit.

Procedure for delisting of coin

BuyUcoin will be intimate about the Coin delisting. A prior notice to the platform users and Coin issuer is mandatory before desilting a Coin. Since BuyUcoin is built on an aggregation-based model, delisting is not completely under BuyUcoin’s control and henceforth, is dependent on external factors. The notice period can be waived off provided the delisting decision is taken in the interest of investors, traders and the crypto ecosystem. Notice period may not be served if delisting is due to any force-majeures, namely an event which is beyond the control of BuyUcoin.

Consequences of delisting of coin

• The Coin or currency pair would cease to be listed and therefore, will not be available for trading on the platform of the Exchange.

• In case of any asset being dissolved i.e. all its pairs are delisted from BuyUcoin, there will be an announcement stating further action.

• All trade orders will be automatically canceled.

• Withdrawals will be allowed up to a month, subject to the status of the Blockchain on which the asset has been created.