CCBeast Special

Gatecoin does not support SewWit2x and delist Tokens
Editorial Team

Gatecoin, a Hong Kong-headquartered cryptocurrency exchange announced on October 23 the delisting of several tokens from its exchange form from November 1, 2017. That delisting came after a compliance review conducted with Gatecoin’s legal advisors. The delisted tokens are:

  1. DGD (DigixDAO)
  2. ICN (Iconomi)
  3. PAY (TenX)
  4. MCO (Monaco)

Gatecoin had warmed investors for this possibility. The Hong Kong Securities and Futures Commission’s (SFC) statement on ICOs back in September declared that SFC would review and determine both if a crypto token fits the criteria of being a security under Hong Kong Securities and Futures Ordinance and if the token founders have taken steps to structure their token with compliance to the SFC’s framework.

The Gatecoin’s clients that they hold balances in any of the above cryptos will have to exchange them to BTC or ETH until November 1. After that date, no exchange option will be available. In case clients did not want to trade their tokens, they would be able to see their balances and withdraw them to external ether wallet addresses at any time before a relevant notification of the company. Gatecoin will carry on storing these tokens on behalf of their clients.

Gatecoin also announced that it would not be suppor5ting the upcoming SegWit2x (B2X) hard fork in November due to a lack of two-way transaction replay attack protection coded into this proposed software “upgrade.”

NOT supporting B2X means that we will:

NOT distribute any B2X to our clients

NOT process any B2X sent to our Bitcoin wallet addresses

NOT list any B2X coin on our exchange

Gatecoin clients considering to claim newly minted B2X coins equivalent to their Bitcoin holdings at the time of the hard fork will need to withdraw their Bitcoin for the exchange at least 12 hours before the hard fork occurs at block 494,784. Gatecoin will be running B2X nodes in case software’s developers decide to add replay attack protection in the future.