Binance to delist various coins in some European countries
Binance to delist various coins in some European countries
Cryptocurrency exchange Binance intends to remove privacy tokens for users in France, Italy, Poland, and Spain from the range of assets available on the platform starting June 26.
The decision was made by the cryptocurrency exchange in response to new laws and regulations governing privacy coin trading in these countries.
The privacy tokens to be delisted are: Dash (DASH), Verge (XVG), Beam (BEAM), Monero (XMR), Navcoin (NAV), Firo (FIRO), Horizen (ZEN), Secret (SCRT), Zcash (ZEC), Pivx (PIVX), Decred (DCR), and Mobilecoin (MOB).
Privacy-focused cryptocurrencies have faced opposition from governments around the world due to concerns about money laundering and terrorist financing, Yahoo! Finance reported.
Binance's decision to comply with local regulations is in line with an ongoing trend of governments opposing privacy-oriented cryptocurrencies and related instruments.
Previously, privacy tokens have repeatedly faced delisting due to regulatory concerns. In 2021, a major cryptocurrency exchange in South Korea removed several such coins from its platform. This trend was also seen in Japan in 2018 and gradually spread to many Asian countries in 2019.
Earlier, we reported that the central bank of the United Arab Emirates issued anti-money laundering guidelines for crypto operations.
Binance is one of the most popular cryptocurrency exchanges, with its own platform based on the TradingView toolkit. The exchange offers its clients access to more than 400 cryptocurrencies, of which more than 25% are stablecoins used for conversion transactions.
