In a significant move for the Canadian crypto market, the digital asset platform Uphold has announced the relisting of several prominent cryptocurrencies. This decision marks a reversal of its previous delisting actions and provides Canadian traders with renewed access to popular tokens.
Expanded Crypto Offerings on Uphold
Uphold has officially reintroduced nine digital assets to its platform. The list includes well-known cryptocurrencies such as Cardano (ADA), Dogecoin (DOGE), and Shiba Inu (SHIB). Other tokens making a return include Casper (CSPR), Hedera (HBAR), Injective (INJ), Kaspa (KAS), XDC Network (XDC), and Stellar (XLM).
This expansion comes after Uphold had delisted these tokens in December 2023, along with VeChain (VET), citing the need to maintain compliance with Canada's evolving regulatory framework for digital assets.
Regulatory Context in Canada
Canada does not recognize cryptocurrencies as legal tender. However, Canadian residents retain the legal right to purchase, sell, and hold digital assets, assuming the associated risks themselves. Uphold's initial delisting was a proactive measure to align with regulatory expectations.
The relisting indicates Uphold's confidence in its ability to offer these assets while operating within the Canadian regulatory environment. This development provides Canadian users with a broader selection of digital assets for trading and investment.
Access Through Topper Payment System
All relisted tokens are available via Uphold's Topper payment platform. Canadian users can access these assets directly through the Topper widget or via any of its integrated partner services. This integration simplifies the process for users to engage with these cryptocurrencies.
The timing of this expansion is particularly noteworthy. Many analysts anticipate a bullish phase in the crypto market, and renewed access to these assets allows Canadian traders to potentially capitalize on emerging opportunities. For those looking to monitor these market movements, tracking real-time analytics can be incredibly valuable.
Potential Future Listing: BONE Token
Following the relisting announcement, speculation has emerged regarding the potential addition of Bone ShibaSwap (BONE) to Uphold's platform. BONE is a native token within the Shiba Inu ecosystem, serving specific functions alongside SHIB and LEASH.
Community observers have noted that Uphold currently holds a substantial quantity of BONE tokens, exceeding one million. This significant holding has led to predictions that an official listing announcement for BONE might be forthcoming.
Such a listing would further increase the token's accessibility and adoption, particularly among Canadian users. It would also represent a logical expansion of Uphold's offerings to include more assets from the thriving Shiba Inu ecosystem.
Frequently Asked Questions
Why did Uphold delist these tokens originally?
Uphold delisted several tokens in late 2023 to ensure its operations remained fully compliant with Canadian regulations regarding cryptocurrency offerings. This was a precautionary measure during a period of regulatory clarification.
How can Canadian users access the relisted tokens?
Canadian users can buy, sell, and trade the relisted tokens through Uphold's Topper payment platform. Access is available via the Topper widget or through any of its partner services.
What is the significance of Uphold holding BONE tokens?
A large holding of a specific token by an exchange often indicates preparation for supporting that asset on its platform. It suggests that Uphold may be considering listing BONE, making it available for trading in the future.
Are cryptocurrencies considered legal tender in Canada?
No, cryptocurrencies are not recognized as legal tender in Canada. They are treated as digital assets, which individuals can transact with at their own discretion and risk.
What does this relisting mean for the average Canadian crypto trader?
It provides more choice and flexibility. Traders can now access a wider array of popular cryptocurrencies, including major meme coins and smart contract platforms, all through a regulated exchange.
Could more tokens be relisted in the future?
While not guaranteed, it is possible. As the regulatory landscape becomes clearer and market demand grows, exchanges like Uphold often continue to expand their supported assets to meet user needs. To stay updated on which assets are available, explore current trading options.