The planned deletion of Coinbase shares from the German stock exchange Deutsche Boerse appears to have been averted.
The platform announced on Wednesday April 21 that Coinbase would be removed from the Xetra and Frankfurt stock exchanges this week after it was discovered that the cryptocurrency exchange had failed to submit accurate reference data for its shares. The removal date was originally touted as Friday, April 23, at the end of the day’s trading session.
The Legal Entity Identifier or LEI code is a requirement for companies conducting financial transactions in the country. However, the stock exchange manager stated that the confusion amounted to an administrative error, in which Coinbase accidentally supplied the wrong reference code.
Deutsche Boerse announced on Thursday that Coinbase had since provided an official LEI code and that the stock would continue to trade unimpeded on its two platforms, according to a Reuters report.
Coinbase wasted no time submitting proper documentation and the situation was resolved in less than 24 hours. A Coinbase spokesperson said at the time:
“We are aware of an administrative error that made it necessary for Coinbase to resubmit certain documentation to certain European exchanges. There have been no interruptions in Coinbase stock trading at this time. We are working to resolve this as soon as possible. “