PayCoin(PCI) Delist By Upbit

We would like to inform you of the termination of market support for PCI(Paycoin) by Digital Asset eXchange Association(DAXA). DAXA may jointly take measures such as urging investment caution/caution, flagging of investment warning, and termination of market support for investor protection.

• Reference : [Trade] Investment Warning (PCI)
• Reference : [Trade] Extended investment warning period for PCI(Paycoin)

[Common notes regarding the termination of market support]

• Termination of market support for digital assets is grounded on Upbit's Policy on the termination of market support for digital assets.
  : Upbit's Policy on the termination of market support for digital assets
• Market support for PCI will be terminated at 2023. 4. 14. 15:00.
• Upon the termination of market support, orders (buy / sell) in the market requested prior to the termination of market support will be cancelled.
• After this notice, Upbit will not support services for the digital asset whose market support is to be terminated. This includes services for airdrop, wallet upgrade, hard fork, etc.

[Termination of market support]

PCI(Paycoin)

• Market : PCI/BTC
• Termination schedule : 2023. 4. 14. 15:00 (KST)
• Reason for the termination of market support
  • On January 6, 2023, Upbit issued an investment warning for PCI effective until February 6, 2023, after it was confirmed that their application for a real-name verified account issuance was rejected by the Financial Intelligence Unit (FIU), and they failed to be recognized as a Virtual Asset Service Provider (VASP). Upbit recognized the significant impact this outcome would have on PCI's business and further extended the designation period until March 31, 2023, for a thorough clarification process.
  • Despite the extension, PCI was unable to obtain a real-name verified deposit/withdrawal account and failed to be recognized as a VASP, effectively halting their domestic payment business. Upbit carefully evaluated the contents provided by the PCI foundation, including their business plan and timeline for real-name verified deposit/withdrawal account issuance. However, considering the drastic changes in their business plan and their performance in overseas markets, there is a risk of further investor harm in the future. Therefore, Upbit decided to terminate market support for PCI to prevent further harm to investors.

Even if market support for the digital asset gets terminated, withdrawals will be supported for 30 days (~ 2023. 5. 14.) from the date of termination in accordance with Upbit's Policy on the termination of market support.
In case you need withdrawal, please make sure to do so before 2023. 5. 14.
*Upbit only supports Mainnet for PCI withdrawal. (Withdrawal through other networks (ex. Ethereum network) cannot be supported.)

Please be noted that DAXA is on constant review and monitoring for the market and digital assets supported by the member companies. We promise to put our best efforts on investor protection in the state of a crisis by promptly delivering information of accuracy and taking joint actions.

Please rest assured that Upbit is fully committed to ensuring the safety of your transactions.