The cryptocurrency exchange Binance has revised its delisting decision for privacy tokens in France, Italy, Poland and Spain, according to company representatives cited by Cointelegraph.
On June 26, the exchange was preparing to remove from the list the coins Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), Beam (BEAM), Monero (XMR) and MobileCoin (MOB).
“After a thorough analysis of feedback from our community and several projects, we have reconsidered how we classify anonymous coins on our platform to comply with EU regulatory requirements,” Binance said.
The firm noted that the exchange is registered in various EU jurisdictions and is “obliged” to follow local rules that require “transaction tracing” for assets listed on the platform.
On June 22, representatives of one of the privacy-focused projects — Verge Currency — said that the native token XVG would remain available on Binance for European users.
We are pleased to inform you that $XVG will remain unaffected by @binance‘s trading restrictions on #privacy coins in certain EU countries.
Verge utilizes a public #blockchain with visible transactions, amounts, and wallet addresses. #vergefam #crypto #ISO20022
— VergeCurrency (XVG) (@vergecurrency) June 22, 2023
Plans were also confirmed by Secret Network that Binance’s plans.
You spoke, and Binance listened!@binance will not be delisting $SCRT, along with six other privacy-focused cryptocurrencies, in European countries. Read the full story below!
Read: https://t.co/woAkM139yk pic.twitter.com/U3CouL4vFH
— ?ecret Network ?⚡️ (@SecretNetwork) June 23, 2023
On 31 May, the European Banking Authority proposed amendments to the MiCA regulation, which was adopted on 20 April. According to the document, anonymous cryptocurrencies pose risks to tracing potential money laundering and terrorist financing.
Earlier in 2021, Bittrex announced delisting Zcash, Dash and Monero. A similar move was taken by ShapeShift.
In May 2022, South Korean exchanges Bithumb and Upbit permitted delisting Litecoin following the MimbleWimble upgrade, which enhances the coin’s privacy.
In September of the same year, Huobi excluded seven privacy-focused coins.