Crypto Assets Delisting

The objective of this crypto asset delisting policy is to inform customers of the framework and main principles governing the process of delisting a crypto asset at Rain. 

Rain may elect to delist a crypto asset upon its discretion. Examples of when Rain might delist a crypto asset include but are not limited to:

• Delisting is required to comply with our regulation or the instructions of our regulator;

• The crypto asset negatively impacts regulatory compliance, particularly with its compliance with AML/CFT regulation;

• ُThe crypto asset significantly increases the risk to Rain including but not limited to security risk and market risk;

• The crypto asset hinders Rain’s or the customers ability to comply with its user agreement;

• The crypto asset poses a significant risk to its customers;

• It is not technologically feasible for Rain to continue listing the crypto asset;

• The crypto asset is not adequately supported by market participants;

• There is insufficient market liquidity to ensure fair prices to Rain customers 

• The crypto asset is of low demand by Rain’s customers;

• The criteria which Rain assumed to list the crypto asset is no longer met by the crypto asset project or issuer.

Rain may also temporarily suspend listing a crypto asset when conducting an assessment to delist or to continue listing a crypto asset. Suspended crypto assets are suspended on all products until a final determination by Rain. Suspended crypto assets may continue to be held by Rain customers until Rain issues its delisting announcement for that crypto asset.

In the event Rain delists a crypto asset it will notify customers of the delisting event using any of its available communication channels, such as web announcements and email notifications. Such announcements will include:

• the final date that deposits of the crypto asset are permitted by Rain

• the final date that the crypto asset may be traded on Rain;

• cancelation of customers’ limit orders under Rain Pro, if any

• If crypto asset custody by Rain will continue to be offered by Rain for a delisted crypto asset;

• the final date that customers may freely store the crypto asset at Rain;

• any required actions by the customers to withdraw delisted crypto assets from their Rain Account;

• any applicable fees;

• any other actions by the customer or by Rain in case the crypto asset is not capable of being withdrawn or further held in Rain’s custody.

Any instructions included in a delisting announcement shall apply in addition to the customer’s obligations under Rain’s user agreement. 

A delisted crypto asset will be delisted from all products and no further trading of the crypto asset will be permitted. 

If a customer does not withdraw a delisted crypto asset from their Rain Account by the final date notified by Rain, Rain reserves the right to charge storage fees to maintain custody of the delisted crypto asset. The customer accepts that storage fees are at Rain’s discretion and may be auto applied by Rain starting on the next day after the final day the delisted crypto asset may be withdrawn.  

Rain endeavors, where it can, to provide advance notice of delisting to its customers but may not be able to do so in all instances (for example if delisting is immediately required to comply with applicable law or regulation). Rain does not warrant that it will provide advance notice of delisting in all cases and in all cases Rain shall not be held liable for any damages, loss of profit, loss of revenue, loss of opportunity, loss of data, or indirect or consequential loss as a result of a suspended or delisted crypto asset.

Rain may amend or cancel this policy at its discretion by making an announcement of the same to its customers.