Huobi delists 33 tokens in one day citing trading risk, low volume

According to a Jan. 11 announcement, cryptocurrency speech Huobi said that it would delist 33 tokens consisting of tickers ABT, ATP, APN, AST,DIE, DHT, DFA, EDEN, GEAR, HC, INDI, IOI, INV, IRIS, GCOIN, GOF, KMA, MTA, NAS, OPUL, PEARL, PRIMATE, QASH, SMT, SLC, SKU, SOC, STC, TALK, VALUE, WHALE, WILD and YAM. Effective Jan. 16, the aforementioned tokens volition cease trading and beryllium delisted permanently. In explaining the decision, Huobi wrote that astir of the tokens violated Section 17, Rule 1, and Section 17, Rule 2, of the Huobi Token Management Rules, which states:

"Huobi reserves the right, based connected the severity of the incident, to fell oregon cease trading successful accordance with the pursuing events: 1) [Tokens] Labeled with "ST" informing and not canceled wrong 30 days. 2) [Tokens] That bash not conscionable the request of having $50,000 successful regular trading volume."

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According to Huobi, an "ST" informing is issued for a token based connected the pursuing bid of triggering events:

1. "Project teams neglect to update the quarterly study connected clip oregon neglect to update the semi-monthly reports for doubly successful succession arsenic scheduled adjacent neglect to update it wrong 7 days aft being notified to bash so;"
2. "In 15 consecutive days, nary of the trading pairs of the tokens has an mean regular trading measurement larger than $50,000 oregon different equivalent tokens."
3. "It is considered indispensable to people "ST" done the broad valuation of inquiry, regular review, peculiar probe oregon on-site investigation;"
4. "Other circumstances identified arsenic superior violations of the Regulations by Huobi."

In particular, Huobi stated that HC (Hcash) was delisted due to the fact that it violated Section 17, Rule 17 of the Huobi Token Management Rules. Rule 17 indicates a "severe usurpation of regulations oregon different high-risk scenarios." Huobi is presently ranked 17th successful the satellite by full 24-hour trading volume. Cointelegraph antecedently reported that doubts mounted implicit the exchange's aboriginal amidst layoff rumors.