Today, Binance revealed plans to expand the scope of its monitoring tag to include 10 additional tokens starting January 4th. Specifically, Monero (XMR) and Zcash (ZEC) are now included in this extension.
According to the press release, the new tokens included in the monitoring tag list include Keep3rV1 (KP3R), Reef (REEF), Aragon (ANT), Firo (FIRO), MobileCoin (MOB), Mdex (MDX), Vai ( VAI). , Horizen (ZEN).
At the same time, Binance will remove seed tags from GMX (GMX) and SushiSwap (SUSHI).
The move is an attempt by Binance to strengthen risk management after it admitted to a series of crimes in late 2023, including money laundering and non-compliance with Know Your Customer (KYC) regulations set by the U.S. Securities and Exchange Commission (SEC). This was done while strengthening the ).
Notably, some of these tokens, including Monero, Horizon, and Zcash, are privacy tokens, projects that are scrutinized by exchange platforms due to their emphasis on anonymity, and OKX recently We have ended support for delisting a trading pair.
Binance has revealed that tokens with a “monitoring tag” undergo rigorous testing due to their high volatility and are subject to regular reviews to ensure compliance with listing standards. The platform warned users that failure to meet these criteria could lead to the delisting of their tokens.
To trade these designated tokens, users must complete a required quiz every 90 days and be prompted to agree to the platform's terms of service. This process is intended to provide users with important information about the risks involved before participating in a trade.
In contrast, tokens marked with a seed tag represent innovative projects with potentially higher volatility and risk. Monitoring and seed tags for these tokens will be displayed on the corresponding transaction page along with a risk warning banner.
Binance has emphasized its commitment to regular project reviews, and is said to be currently considering factors such as team commitment, development activity, trading volumes, network stability, and compliance with due diligence requirements. There is. In these reviews, the company says the platform will decide whether to include or remove the token from the tag based on the latest findings.
Therefore, Binance assures users that other services related to these tokens will not be affected. Monitoring and seed tag updates for the specified token will be implemented immediately after the press release.
