Coinut will not make new Crypto Assets available to be traded on its Platform without a thorough review of the product. Any new Crypto Asset will require the approval of the Product Due Diligence Committee (the “PDDC”). The PDDC will also review existing listings that may have become securities and/or derivatives and make a decision as to whether to delist them.
When Coinut decides to discontinue support for trading in a Crypto Asset on the Platform, it will take the following steps:
- within seven (7) days before discontinuing support for the Crypto Asset (the “Announcement Date”), communicate to its users via email, social media and in-app notifications that on the day that is seven (7) days after the Announcement Date (the “Deadline Date”) they will no longer be able to: (i) trade the Crypto Asset; or (ii) fund their account with the Crypto Asset;
- on the Deadline Date, (i)discontinue support of the Crypto Asset by disabling trading in the Crypto Asset and funding of accounts using the Crypto Asset; and (ii)communicate to its users via email, social media and in-app notifications that on the day that is ninety (90) days after the Deadline Date (the “Final Withdrawal Date”), they will no longer be able to withdraw their holdings of the Crypto Asset off the Platform;
- continue to support withdrawals of the delisted cryptocurrency from our platform for a grace period of ninety (90) days after the effective date. Users are advised to withdraw their balances of the delisted cryptocurrency to an external wallet or another platform before the end of the grace period.
- in Coinut’s sole discretion, periodically send out notices to its users that still have a balance of the Crypto Asset credited to their accounts to remind them to withdraw the remaining balances before the Deadline Date.
- On the Final Withdrawal Date, disable the ability of users to withdraw their holdings of the Crypto Asset off the Platform.
For greater certainty, Coinut may also decide, in its sole discretion, to continue to store the discontinued Crypto Asset for its users and allow the withdrawal of the Crypto Asset by its users for a period of time that is shorter or longer than thirty days following the Deadline Date. A decision in this regard could be prompted by cybersecurity or regulatory risks posed to Coinut’s users or to Coinut itself or, alternatively, related to the costs associated with maintaining storage capabilities for the discontinued Crypto Asset.
(Last updated: )