Upbit, Bithumb to Delist STORJ, TT, and JASMY on Sept. 14 — What Traders Should Know

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Upbit, Bithumb to Delist STORJ, TT, and JASMY on Sept. 14 — What Traders Should Know

South Korea’s two largest cryptocurrency exchanges, Upbit and Bithumb, have confirmed they will delist three digital assets — Storj (STORJ), ThunderCore (TT), and JasmyCoin (JASMY) — effective 6:00 a.m. UTC on September 14. The decision follows unresolved trading warning designations that were previously placed on these tokens, signaling heightened regulatory scrutiny in one of the world’s most active crypto markets.

Why the Exchanges Are Taking Action

Upbit and Bithumb initially placed STORJ, TT, and JASMY under trading warning status, a measure typically triggered by concerns over project transparency, developer activity, or compliance with local regulations. Under South Korean rules, exchanges must periodically review listed assets and can delist tokens if issues are not resolved within a specified period. The announcement indicates that the underlying concerns were not addressed to the satisfaction of the exchanges’ review committees.

Coinone, another major South Korean platform, has also extended its delisting watchlist designation for STORJ, suggesting that the token’s troubles may not be limited to just two venues. While Coinone has not yet announced a full delisting, the extension signals continued monitoring and potential future action.

Impact on Traders and Market Sentiment

For holders of these tokens, the delisting means that trading pairs on Upbit and Bithumb will be removed, and withdrawals may be suspended or limited after the deadline. Historically, delisting announcements have led to sharp price declines and increased volatility, as liquidity dries up and traders rush to exit positions. STORJ, TT, and JASMY have all experienced price drops since the news broke, reflecting market anxiety.

It is also worth noting that South Korea’s crypto exchanges operate under strict regulatory oversight, and delistings are not uncommon. However, the simultaneous removal of three tokens across major platforms underscores the importance of due diligence for investors in the region.

What This Means for the Broader Market

The delistings highlight the ongoing regulatory tightening in South Korea, where authorities have been pushing for greater investor protection and market integrity. For projects, maintaining transparent operations and active development is critical to staying listed on major exchanges. For traders, this event serves as a reminder that exchange listings are not permanent and that regulatory compliance is a key factor in asset viability.

Conclusion

Upbit and Bithumb’s decision to delist STORJ, TT, and JASMY on September 14 is a significant event for holders and the broader South Korean crypto market. With Coinone also extending its watch on STORJ, the outlook for these tokens remains uncertain. Traders should monitor official exchange announcements for specific timelines on withdrawal suspensions and consider their positions carefully.

FAQs

Q1: What does delisting mean for my tokens?
If you hold STORJ, TT, or JASMY on Upbit or Bithumb, you will no longer be able to trade these assets on those platforms after the delisting date. Withdrawals may still be possible for a limited time, but you should check each exchange’s official notice for exact deadlines and procedures.

Q2: Why are these tokens being delisted?
The exchanges cited unresolved issues that led to trading warning designations. These warnings are typically issued when a token fails to meet listing standards, such as project transparency, development activity, or regulatory compliance. The exact reasons for each token may vary, but the common factor is the failure to address these concerns.

Q3: Will the tokens be listed on other exchanges?
It is possible that these tokens remain listed on other South Korean or international exchanges. However, the delisting from major platforms like Upbit and Bithumb reduces liquidity and may affect overall market confidence. Investors should check the status of these tokens on other exchanges before making any decisions.

This post Upbit, Bithumb to Delist STORJ, TT, and JASMY on Sept. 14 — What Traders Should Know first appeared on BitcoinWorld.