Updated: February 6, 2024, 6:02 a.m. ET
Binance will delist Monero, a popular privacy coin, on February 20th, along with Aragon, Multichain, and Vi.
“At Binance, we regularly review each digital asset we list to ensure that they continue to meet the high standards we expect,” the cryptocurrency exchange said in an official announcement. . “If a coin or token no longer meets this standard, or if the industry changes, we will conduct a more thorough review and possibly delist it. This is the best way to protect all users. We believe this is the way to go.”
Following news of the delisting, the price of Monero's native coin, XMR, fell by more than 15%.
Following the news that Binance will be delisted, the price of Monero has fallen significantly.Source: The Block
The exact Monero trading pairs that will be removed are for Bitcoin, Ether, and Tether.
The delisting may not come as a surprise. In early January, Binance placed “surveillance tags” on Monero and a number of other coins and tokens. Rival exchange OKX also delisted Monero in January, along with privacy-focused coins Zcash and Dash.
Exchanges have come under increasing regulatory pressure to delist privacy coins in recent years, leading some coins to survive with privacy features removed.
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