EDXM Delists Bitcoin Cash (BCH) Amid XRP Speculation” – U.S.-based EDXM exchange sparks curiosity in the cryptocurrency community by removing BCH from its offerings. Amid regulatory considerations, this move fuels speculation regarding a potential XRP listing. The community awaits EDXM’s clarification on this decision as BCH’s price rises.
EDXM’s Decision Sparks Curiosity And Raises Questions In The Crypto Community
In a recent development, EDXM, a U.S.-based virtual asset exchange, has officially confirmed the delisting of Bitcoin Cash (BCH) from its trading offerings, leaving investors and the cryptocurrency community pondering the reasons behind this decision. This news comes amid growing anticipation regarding the possible listing of XRP on the platform. Despite the delisting, Bitcoin Cash’s price experienced an increase on Thursday, November 2.
EDXM’s Bitcoin Cash Delisting Confirmation
Speculation about the removal of Bitcoin Cash (BCH) from the EDXM platform began circulating on November 1, stirring interest and raising questions among users and investors. Jeanine Hightower-Sellitto, the Chief Strategy Officer (CSO) for EDXM, has now confirmed the delisting, announcing that the exchange will no longer support Bitcoin Cash (BCH).
However, specific details and the rationale behind the decision were not provided by the exchange. When questioned about the timing and motives, Hightower-Sellitto directed users to EDXM’s “Trading Resources” page for information on the current cryptocurrency offerings and encouraged users to subscribe to the exchange’s newsletter for updates on future listings.
EDXM’s Selective Cryptocurrency Offering
EDXM’s CEO, Jamil Nazarali, had previously shed light on the exchange’s selective approach to cryptocurrency listings. He explained that the platform’s choice to list only a limited number of cryptocurrencies was driven by regulatory considerations, specifically the U.S. Securities and Exchange Commission (SEC) regulations. Compliance with these regulations is crucial to avoid classifying a cryptocurrency as a security.
With only Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) available for trading on the “Products Traded” page of the EDX Markets website at the time of writing, it is evident that the exchange maintains its commitment to regulatory compliance and the avoidance of securities classification.
Speculation Surrounding XRP Listing
Many market observers have speculated that EDX Markets might soon add XRP to its platform, given XRP’s recent legal victory. Judge Analisa Torres ruled that XRP is not a security, potentially opening the door for its listing on various exchanges.
The Delisting’s Implications
The delisting of Bitcoin Cash on EDXM has left the cryptocurrency community in suspense, as the reasons behind this move remain unclear. As the cryptocurrency landscape evolves, and regulatory concerns continue to influence trading offerings, EDXM’s decision could signify a broader industry trend. The community eagerly awaits further details and explanations from EDXM regarding the removal of Bitcoin Cash.
As of the time of writing, Bitcoin Cash’s price has risen by 1.14% to $243.67, with a 29.05% increase in its trading volume, reaching $234.29 million. The cryptocurrency’s market cap has also increased by 1.14%, reaching $4.76 billion.