Shift

Litecoin

Bitcoin

<a href="https://www.kucoin.com/r/rf/rM884UH" rel="noopener noreferrer nofollow">KuCoin</a>, a leading cryptocurrency exchange, is suspending its Bitcoin (BTC) and <a href="https://ultramining.com/en/ratings/litecoin/" rel="noopener noreferrer nofollow">Litecoin</a> (<a href="https://ultramining.com/news/en/how-to-increase-income-from-mining-ltc-and-doge/" rel="noopener noreferrer nofollow">LTC</a>) mining pools. The suspension will start from 16:00:00 on August 15, 2023 (UTC). The exchange advised miners to shift to alternative pools before the deadline, according to <a href="https://cointelegraph.com/news/kucoin-suspends-bitcoin-litecoin-mining-pools" rel="noopener noreferrer nofollow">cointelegraph</a>. 
The decision is "in line with <a href="https://www.kucoin.com/r/rf/rM884UH" rel="noopener noreferrer nofollow">KuCoin</a>'s evolving business strategy." However, details remain unclear. Some speculate it may link to the upcoming <a href="https://ultramining.com/en/ratings/litecoin/" rel="noopener noreferrer nofollow">Litecoin</a> <a href="https://ultramining.com/news/en/heat-waves-and-halving-bitcoin-miners-cash-in-amid-rising-prices/" rel="noopener noreferrer nofollow">halving</a>. 
Miners must back up and preserve data before August 27. Currently, <a href="https://www.kucoin.com/r/rf/rM884UH" rel="noopener noreferrer nofollow">KuCoin</a>'s BTC and <a href="https://ultramining.com/news/en/how-to-increase-income-from-mining-ltc-and-doge/" rel="noopener noreferrer nofollow">LTC</a> mining pools have hash rates of 9.08 EH/s and 3.90 TH/s, respectively. 
In addition, <a href="https://www.kucoin.com/r/rf/rM884UH" rel="noopener noreferrer nofollow">KuCoin</a> has implemented mandatory Know Your Customer (KYC) requirements. Existing customers can't deposit without completing KYC. The exchange has over 20 million accounts. 
Despite reports of layoffs, CEO Johnny Lyu confirmed strong growth in users and listings. He stated that the team is "expanding steadily." 
This suspension marks a significant shift for <a href="https://www.kucoin.com/r/rf/rM884UH" rel="noopener noreferrer nofollow">KuCoin</a> as it adapts to changing market dynamics. The decision also underscores the increasing importance of regulatory compliance in the crypto industry. 
Subscribe to our Telegram <a href="https://t.me/ultraminingcom" rel="noopener noreferrer nofollow">channel</a>! Only the most interesting stuff there

KuCoin Suspends BTC and LTC Mining Pools Amid Business Strategy Shift and New KYC Requirements

Ultramining_Eng

Other articles published on Aug 3, 2023

Mo Stock Price Prediction: Should You Invest in Altria Group?

Dogecoin Price Prediction: DOGE May Rebound Now For $0.080

Why is Now the Time to Buy DOGE and LINK? Entry Levels are There for the Taking

Blackrock Stock Price Prediction: Can BLK Stock Reach $700?

Abbvie Stock Price Prediction: ABBV Stock Rises, Can It Sustain?

XRP Price History Points to Whopping 45% Upside

Join our free newsletter for daily crypto updates!