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## Floki Clarifies Speculation About Coinbase Removal
Not long ago, reports began spreading that Coinbase intended to take away Floki from its platform. To clarify the situation, Floki used Twitter to handle the uncertainty. As it turns out, Coinbase is just temporarily stopping $FLOKI trading specifically for users in the State of New York.
Toncoin (TON) Value Forecast for March 26th
Why is it New York? Well, the state has some very strict crypto regulations. But here’s the positive aspect: Floki claims that this temporary suspension hasn’t really affected their overall trading volume. New York only represents a small portion (about 2-5%) of their activity.
## Why Floki is Still Significant
Floki is still a top competitor among meme coins. On average, Coinbase only manages about 1% of Floki’s daily transactions. So, even if Coinbase *did* choose to entirely remove FLOKI (which isn’t occurring), it wouldn’t be a significant setback.
While being listed on major exchanges is always beneficial for any crypto, it’s not the ultimate goal. It primarily aids in accelerating acceptance.
A few months ago, the Commodity Futures Trading Commission (CFTC) recognized Floki as a helpful token. This was a big deal because only a few cryptos (ETH, FLOKI, AVAX, and one other) received the same recognition. It demonstrates that Floki’s focus on being more than just a meme is proving worthwhile. Furthermore, the fact that FLOKI survived the recent market decline alongside DOGE and HIB demonstrates its endurance in the world of meme coins.
## New York’s Crypto Position
New York’s stringent crypto regulations are the cause of Coinbase’s choice to stop $FLOKI trading in the state. Coinbase has only listed a few meme coins in New York, including PEPE, BONK, FLOKI, WIF, TURBO, and GIGA.
In the past year, PEPE, BONK, and WIF commenced commerce, while three additional currencies solely started trading jointly around six weeks ago. In accordance with revised guidelines, these trio of currencies—FLOKI, TURBO, and GIGO—will cease to be accessible for commerce inside New York.
For lucidity, Coinbase isn’t eliminating FLOKI. It merely cannot be exchanged inside New York anymore because of the state’s stringent digital currency legislations. The remainder of the U.S. endures to sustain it. TURBO and GIGA are likewise impacted by this regulation, thus it’s not solely a Floki concern. Furthermore, New York solely constitutes 0.1% of FLOKI’s aggregate commerce quantity, consequently this occurrence shouldn’t possess a considerable consequence.
Umair Younas is a content developer concentrated on digital currency since 2019. At Blockchainreporter, he composes articles and reports. He’s enthusiastic regarding fintech, DeFi, NFTs, blockchain, and digital currencies. He excels at composing truthful assessments of exchanges and brokers and collaborates with our education group to cultivate learning resources. He’s committed to augmenting understanding of virtual currencies. His well-investigated and informative labor delivers novel viewpoints. Remain attuned to his posts for the most recent reports in the digital currency realm!
