Binance shakes up private cryptocurrency market with possible zcash and Monero delisting threats
binance
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Crypto exchange Binance said on Jan. 4 that it may delist three privacy tokens, including Zcash (ZEC), monero (XMR), and Horizen (ZEN), as they are at risk of no longer meeting the listing criteria.
Therefore, the exchange placed a “Track tag” on these privacy tokens and other digital assets such as aragon, Firo, Keep3rV1, MobileCoin, reef, and Vai.
Binance’s decision significantly impacted these digital assets alongside the broader market contraction; The privacy industry has fallen by more than 6% in the last 24 hours and by almost 10% in the past week. CryptoSlate data.
In the past day, Monero, Zcash and Horizen fell by 5%, 12% and 16% respectively.
Meanwhile, Binance requires users interested in these assets to take an exam every 90 days to ensure they understand the risks inherent in trading on their spot and/or margin platforms.
Why is Binance delisting them?
Binance stated the following:
Last year, Binance announced that it would delist many privacy coins in accordance with European local laws and regulations. At the time, market observers noted that the move was tied to high regulatory scrutiny of privacy coins that have attracted global attention.
OKX, another leading cryptocurrency platform, announced that it intends to delist several privacy-focused cryptocurrencies by January 5, including Zcash and Monero, as they do not meet the listing criteria.
As of the time the news was published, Binance has not yet responded CryptoSlate request for additional comments.
#Binance #shakes #private #cryptocurrency #market #Zcash #Monero #delisting #threats
binance
-privacy-coins.jpg” />
Crypto exchange Binance said on Jan. 4 that it may delist three privacy tokens, including Zcash (ZEC), monero (XMR), and Horizen (ZEN), as they are at risk of no longer meeting the listing criteria.
Therefore, the exchange placed a “Track tag” on these privacy tokens and other digital assets such as aragon, Firo, Keep3rV1, MobileCoin, reef, and Vai.
Binance’s decision significantly impacted these digital assets alongside the broader market contraction; The privacy industry has fallen by more than 6% in the last 24 hours and by almost 10% in the past week. CryptoSlate data.
In the past day, Monero, Zcash and Horizen fell by 5%, 12% and 16% respectively.
Meanwhile, Binance requires users interested in these assets to take an exam every 90 days to ensure they understand the risks inherent in trading on their spot and/or margin platforms.
Why is Binance delisting them?
Binance stated the following:
The exchange also explained that its decision was part of a periodic project review that evaluates criteria such as team commitment, transaction volume, network security and liquidity.
Last year, Binance announced that it would delist many privacy coins in accordance with European local laws and regulations. At the time, market observers noted that the move was tied to high regulatory scrutiny of privacy coins that have attracted global attention.
OKX, another leading cryptocurrency platform, announced that it intends to delist several privacy-focused cryptocurrencies by January 5, including Zcash and Monero, as they do not meet the listing criteria.
As of the time the news was published, Binance has not yet responded CryptoSlate request for additional comments.
#Binance #shakes #private #cryptocurrency #market #Zcash #Monero #delisting #threats
