German Exchanges Planning To Delist Coinbase Stocks, Quotes ‘Missing Reference Data’

The Deutsche Boerse Group has mentioned that it is mulling over delisting Coinbase’s stocks on its Xetra digital stock exchange along with Frankfurt Stock Exchange.

As per Reuters, Deutsche Boerse mentioned it would delist Coinbase Global from the 2 exchanges referring to “missing reference data” for the shares. The group mentioned someone involved in listing the shares of the crypto exchange used an improper Legal Entity Identifier (LEI) code. It is to be noted that the LEI code is a regulatory prerequisite for any establishments partaking in financial dealings.

Unless Deutsche Boerse or Coinbase takes any appropriate action, the stock will no longer be listed on Xetra or the Frankfurt Stock Exchange starting at the conclusion of trading on 23rd April. The group further mentioned that the actions would continue until further notice.

Deutsche Boerse said,

“The only way for Coinbase to resume trading is for the issuer to apply for an LEI.”

Notably, Deutsche Boerse’s electronic trading platform has been responsible for listing numerous digital asset ETPs, in recent weeks. Recently, London-based ETC Group launched its physical Litecoin exchange-traded digital currency on Xetra, ensuing the platform commencing trading for ETC’s Ethereum exchange-traded commodity product and 21Shares’ Ethereum and Bitcoin Cash Exchange Traded Products.