From January 15, the cryptocurrency exchange Bittrex will halt trading of privacy-focused coins Monero (XMR), Zcash (ZEC) and Dash (DASH).
#Bittrex Customers:
The $XMR, $ZEC, and $DASH markets will be removed on Friday, January 15th at 23:00 UTC.
Details: https://t.co/8qAdjuwryJ
— Bittrex (@BittrexExchange) January 1, 2021
Assets on the platform trade in pairs with Bitcoin (BTC), Ethereum (ETH) and the Tether (USDT) stablecoin, with ZEC and DASH also traded against the US dollar.
The exchange did not disclose the reason for the delisting of privacy-focused coins, citing its token-delisting rules.
The Block analyst Larry Chermak reminded that exchanges in South Korea had previously stopped supporting anonymous coins due to FATF requirements. In his view, Bittrex’s decision could be the first similar regulator-driven response by American platforms.
Among possible reasons for the delisting cited in Bittrex’s rules are evolving regulatory norms and other questions of legal compliance.
Following the exchange’s announcement, prices of privacy-focused coins fell sharply. XMR dropped from $169 to $95, and as of writing the cryptocurrency was trading around $136.
Source: TradingView.
According to CoinGecko, in the last 24 hours ZEC fell about 10%, DASH about 11%.
Dash contends that their coin should not be regarded as confidential.
Former lead Monero developer Riccardo “Fluffypony” Spagni, in an interview with ForkLog, said that the anonymity attributed to the cryptocurrency is a big misconception.
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