Cryptocurrency exchange Binance will delist three privacy tokens, including Zcash (ZEC), Monero (XMR), and Horizen (ZEN), due to the risk of failing to meet listing standards, according to a statement on January 4. announced that it is possible.
As such, the exchange has placed “surveillance tags” on these privacy tokens and other digital assets such as Aragon, Firo, Keep3rV1, MobileCoin, Reef, and Vai.
Binance's decision, along with a broader market drawdown, could have a major impact on these digital assets, as the privacy sector is down more than 6% in the past 24 hours and nearly 10% in the past week, according to I gave it. crypto slate data.
Over the past day, Monero, Zcash, and Horizen have fallen 5%, 12%, and 16%, respectively.
Meanwhile, Binance currently requires users interested in these assets to take a quiz every 90 days to ensure they understand the risks inherent in trading on spot and/or margin platforms.
Why will Binance be delisted?
Binance says:
“Tokens tagged with a monitoring tag exhibit significantly higher volatility and risk compared to other publicly traded tokens. These tokens are closely monitored and regularly reviewed. Please note that your tokens may no longer meet our listing criteria and are at risk of being delisted from the platform.”
The exchange further revealed that its decision is part of a regular project review that evaluates criteria such as team commitment, trading volumes, network security, and liquidity.
Last year, Binance announced that it would delist several privacy coins in accordance with local European laws and regulations. At the time, market observers pointed out that the move was related to the intense regulatory scrutiny privacy coins are attracting around the world.
OKX, another top cryptocurrency platform, announced its intention to delist several privacy-focused cryptocurrencies, including Zcash and Monero, by January 5th, as they do not meet listing standards.
As of this writing, Binance has not yet responded crypto slate Requests additional comment.
