Major Crypto Exchange Drops Shiba Inu, Dogecoin, and Cardano in Canada Amid Delisting Wave, Stands by XRP

Prominent cryptocurrency exchange Uphold recently made the decision to delist several major cryptocurrencies, including Shiba Inu, Dogecoin, and Cardano, for its users in Canada. This move comes as Uphold classified these tokens as Tier 3, in compliance with Canada’s cryptocurrency regulations. The delisting of these tokens is part of Uphold’s agreement with the Ontario Securities Commission as it works towards its registration process in the country. Other cryptocurrencies being delisted include XDC Network, Stellar, Injective, Hedera, Terra Classic, and the Solana-based memecoin BONK. Uphold has given users 30 days to withdraw these tokens or convert them into other supported cryptocurrencies. Failure to do so by January 15, 2024, will result in the automatic conversion of assets into Canadian Dollars. Notably, the delisting does not affect XRP, as Uphold has been a supporter of the native token of the XRP Ledger. Uphold previously affirmed its commitment to listing XRP until the lawsuit between Ripple Labs and the SEC is resolved. The lawsuit revolves around whether XRP is an unregistered security or not.