On June 26, the Binance crypto exchange will delist 12 privacy coins in France, Italy, Poland and Spain. The platform has sent email notifications to users in these countries.
It will no longer be possible to access privacy coins via Binance. pic.twitter.com/ZoiAsHiYuG
— La Baleine Crypto ? (@BaleineFR) May 31, 2023
Included in the list are: 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).
“In striving to support as many quality projects as possible, we are obliged to comply with local laws and rules governing the trading of privacy coins, to ensure service to a broader base of users,” said a Binance spokesperson in a conversation with The Block.
On May 31, the European Banking Authority proposed amendments to the MiCA bill adopted on 20 April. According to the document, anonymous cryptocurrencies pose risks to tracking potential money laundering and financing of terrorism.
In a letter to users, Binance representatives noted that the delisting issue for privacy tokens remains open until the final approval of the new rules.
Earlier in 2021, the Bittrex exchange announced the delisting of Zcash, Dash and Monero. ShapeShift made a similar move.
In May 2022, South Korean exchanges Bithumb and Upbit allowed the delisting of Litecoin after the MimbleWimble update, which enhances the coin’s privacy.
In September of the same year, Huobi removed seven privacy-focused coins.