DNotes Global CEO Alan Yong announced on Friday that the Cryptopia exchange had temporarily delayed its planned listing of the DNotes digital currency. Yong advised DNotes stakeholders of the delay in a post on the coin’s bitcointalk forum thread and suggested that the exchange review would be advantageous, demonstrating DNotes’ commitment to adhering to existing legal requirements.
DNotes Global had already announced the pending Cryptopia listing, which had been scheduled for May 12, 2018. The exchange had previously listed the original version of DNotes, but the coin was delisted at DNotes Global’s request while the company launched the upgraded DNotes 2.0 version of the digital currency. Cryptopia’s delisting process took place over a one-month period to provide its customers with adequate time to participate in the DNotes coin swap.
Yong’s notice addressed recent turmoil in the cryptocurrency industry and advised investors to do their “due diligence before investing.” He also noted that digital currency exchanges are facing “intense scrutiny for regulatory compliance,” before noting that Cryptopia’s legal team is currently reviewing the exchange’s listed coins:
“We have just been advised by Cryptopia that our listing on their exchange is delayed. Their lawyers are currently reviewing all new and current listings. They indicated that this will only take a few days.
Because we have publicly announced, with Cryptopia approval, the listing date of May 12th, 2018 I am obligated to make my response to Cryptopia public. I shall be doing so in a following post.
I am hopeful that my response will enable their legal team to reach a positive legal opinion promptly. While this is most disappointing, I trust that over the longer-term this could be advantageous to DNotes as the trusted digital currency committed to follow existing laws.“
Yong’s response to the Cryptopia inquiry addressed concerns about existing security laws and controversial issues like those surrounding initial coin offerings, or ICOs. He also reiterated DNotes Global’s commitment to ensuring that everything the company does is in accordance with current legal requirements.