Binance adds new privacy tokens to its list of risky assets
Binance adds new privacy tokens to its list of risky assets
Cryptocurrency exchange Binance has announced the assignment of the Monitoring Tag to a number of coins, including Monero and Zcash privacy tokens, and the removal of the Seed Tag for selected assets on January 4, 2024.
Tokens added to the Monitoring Tag list: Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef (REEF), Vai (VAI), Monero (XMR), Zcash (ZEC), and Horizen (ZEN).
Tokens removed from the Seed Tag list include GMX (GMX) and SushiSwap (SUSHI).
Binance warns that tokens with a Monitoring Tag have higher volatility and risks compared to other listed coins.
The exchange also said that all tokens listed on the platform are closely monitored and undergo the following regular eligibility checks:
• The team's commitment to the project
• Level and quality of development
• Trading volume and liquidity
• Network stability and security against attacks
• Network and smart contract stability
• Level of public communication
• Responsiveness to Binance periodic due diligence requests
• Evidence of unethical or fraudulent behavior or negligence
• Contribution to a healthy and sustainable crypto ecosystem
In order to gain access to trade Monitoring Tag or Seed Tag tokens, users are required to take the appropriate quizzes every 90 days on the Binance Spot and/or Binance Margin platforms and accept the terms of use.
"The quizzes are designed to make users aware of the risks before trading Monitoring Tag or Seed Tag tokens," Binance said in a statement.
However, the exchange noted that tokens with a Monitoring Tag may no longer meet our listing criteria and will be delisted from the platform.
