Injunction Granted to Suspend Cryptocurrency Exchange Delisting Decision
We verified the process by which the delisting standard was applied and substantiated concerns over procedural fairness.
Basic Facts
The exchange decided to delist a digital asset issued by the client.
The stated reason for the decision was a violation of disclosure requirements related to circulating supply.
The period between notice of the decision and the actual suspension of trading was short.
Jeongpyeong's Assistance
We obtained the exchange's delisting criteria and its history of application, and compared them against how the same grounds had been handled in the past.
We organized in chronological order the timing of changes to the circulating supply calculation standard and the timing of the client's disclosures.
We reviewed the procedural record to determine whether a genuine opportunity to submit an opinion had been guaranteed.
We substantiated with evidence the irreparable harm the trading suspension would cause to users.
Outcome
The court granted an injunction suspending the effect of the delisting decision.
This was a case where the process of applying the standard, rather than the existence of the standard itself, became the key issue.
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