Binance refuses to delist anonymous tokens in the EU


Bitcoin exchange Binance has reconsidered the decision to delist privacy tokens in France, Italy, Poland and Spain. Representatives of the company reported this to Cointelegraph.

On June 26, the trading platform was preparing to remove Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo coins from the list (FIRO), Beam (BEAM), Monero (XMR) and MobileCoin (MOB).

“After careful consideration of our community feedback and several projects, we have revised how we classify anonymous coins on our platform to comply with EU regulations,” Binance said.

The company clarified that the exchange is registered in various jurisdictions of the European Union and is “obliged” to follow local regulations that require “transaction tracking for assets listed on the platform.”

On June 22, representatives of one of the confidential projects – Verge Currency – announced that the native XVG token will remain available on Binance for European users.

Binance’s plans were also confirmed by the Secret Network.

On May 31, the European Banking Authority proposed amendments to the bill adopted on April 20 to regulate the crypto-assets market (MiCA). According to the document, anonymous cryptocurrencies carry risks for tracking potential money laundering and terrorist financing.

Recall that at the beginning of 2021, the Bittrex exchange announced the delisting of Zcash, Dash and Monero. A similar decision was made in ShapeShift.

In May 2022, South Korean exchanges Bithumb and Upbit allowed Litecoin to be delisted following a MimbleWimble update that improves the privacy of the coin.

In September of the same year, Huobi delisted seven privacy-focused coins.

Found a mistake in the text? Select it and press CTRL+ENTER

ForkLog Newsletters: Keep your finger on the pulse of the bitcoin industry!


Leave a Reply