Delisting of DGD, ICN, PAY and MCO tokens on 1 November 2017

HONG KONG — 20 October 2017 — Based on a compliance review conducted with our legal advisors Gatecoin has decided to delist several tokens from our exchange on 1 November 2017. The delisted tokens are:

• DGD (DigixDAO)
• ICN (Iconomi)
• PAY (TenX)
• MCO (Monaco)

Gatecoin clients holding balances in any or all of these tokens will have until 1 November to trade them for BTC or ETH. From 1 November 2017 onwards, both trading and credit of these tokens will no longer be available through our exchange.

Clients preferring not to exchange their tokens will be able to see their balances and withdraw them to external ethereum wallet addresses at any time until further updates. Gatecoin will continue to store these tokens on behalf of clients in the meantime.

This compliance review was prompted by the Hong Kong Securities and Futures Commission’s (SFC) statement on ICOs released on 5 September 2017. Gatecoin previously announced the possibility that any tokens likely to be deemed securities by the SFC would be delisted from our exchange. Additional tokens may be delisted in the future pending further compliance reviews.

As the token sale and secondary market ecosystem evolves, regulators are also likely to change the way that such tokens are legally classified. Therefore, our team is working to keep up to date on the latest regulatory developments in Hong Kong and around the world to study the impact on the tokens that we have already or are considering to list in the future.

In the meantime, it is unfortunate that we must delist tokens associated with very promising decentralized platforms. Nevertheless, Gatecoin has always been committed to complying with the guidelines of both local and global regulators and we are exploring several new licensing opportunities across a variety of jurisdictions. Such licenses would provide us with greater flexibility to list a wider variety of tokens, including those likely to be deemed securities.

Stay tuned for further updates on that front from us.

Thank you for your understanding and cooperation,

The Gatecoin Team

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For any questions regarding this update please email support@gatecoin.com.

If you are a journalist or blogger and would like to know more, contact media@gatecoin.com.