Binance retracts decision to remove privacy tokens in EU nations

Binance has backtracked on its decision to delist Zcash, Dash, and other privacy tokens in EU countries.
Dot
March 8, 2024
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

TABLE OF CONTENTS
Changpeng Zhao, CEO of Binance; Photo Source: Binance (Youtube)
As stated by Binance, “After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements.”

Binance has backtracked on its decision to delist privacy tokens in European countries.

Earlier in May, Binance announced that users residing in Italy, France, Poland, and Spain will not be able to trade twelve privacy tokens after June 26.  

According to Binance, the exchange made the decision to delist privacy coins to comply with local regulation. The tokens scheduled for delisting included Monero (XMR), Dash (DASH), Zcash (ZEC), Verge (XVG), Firo (FRO), Horizen (ZEN), MobileCoin (MOB), Beam (BEAM), PIVX (PIVX), Navcoin (NAV), Decred (DCR), and Secret (SCRT).



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However, Binance has decided to remove the trading restrictions for seven of these coins after receiving feedback from the crypto community. Verge and Secret Network have confirmed their crypto offerings will continue to remain listed on Binance. 

Meanwhile, the exchange will restrict trading services for Monero, MobileCoin, Firo, Horizen and Beam under its revised plans.   

Privacy coins refer to cryptocurrencies that maintain the anonymity of users by obfuscating transactions on the blockchain. As a result, regulators across the globe have cracked down on privacy coins to reduce money laundering crimes.  

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn

Binance retracts decision to remove privacy tokens in EU nations

HomeCrypto exchanges
Contents
Changpeng Zhao, CEO of Binance; Photo Source: Binance (Youtube)
As stated by Binance, “After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements.”

Binance has backtracked on its decision to delist privacy tokens in European countries.

Earlier in May, Binance announced that users residing in Italy, France, Poland, and Spain will not be able to trade twelve privacy tokens after June 26.  

According to Binance, the exchange made the decision to delist privacy coins to comply with local regulation. The tokens scheduled for delisting included Monero (XMR), Dash (DASH), Zcash (ZEC), Verge (XVG), Firo (FRO), Horizen (ZEN), MobileCoin (MOB), Beam (BEAM), PIVX (PIVX), Navcoin (NAV), Decred (DCR), and Secret (SCRT).



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


However, Binance has decided to remove the trading restrictions for seven of these coins after receiving feedback from the crypto community. Verge and Secret Network have confirmed their crypto offerings will continue to remain listed on Binance. 

Meanwhile, the exchange will restrict trading services for Monero, MobileCoin, Firo, Horizen and Beam under its revised plans.   

Privacy coins refer to cryptocurrencies that maintain the anonymity of users by obfuscating transactions on the blockchain. As a result, regulators across the globe have cracked down on privacy coins to reduce money laundering crimes.  

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Ayush Pande

As a tech enthusiast who's always on the prowl for the latest developments concerning crypto and hardware, you can find him covering news stories or tinkering with PCs.

As stated by Binance, “After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements.”

Binance has backtracked on its decision to delist privacy tokens in European countries.

Earlier in May, Binance announced that users residing in Italy, France, Poland, and Spain will not be able to trade twelve privacy tokens after June 26.  

According to Binance, the exchange made the decision to delist privacy coins to comply with local regulation. The tokens scheduled for delisting included Monero (XMR), Dash (DASH), Zcash (ZEC), Verge (XVG), Firo (FRO), Horizen (ZEN), MobileCoin (MOB), Beam (BEAM), PIVX (PIVX), Navcoin (NAV), Decred (DCR), and Secret (SCRT).



Get Our Free Newsletter

Subscribe to our newsletter to get tips, our favorite services, and the best deals on Bitcompare-approved picks sent to your inbox


However, Binance has decided to remove the trading restrictions for seven of these coins after receiving feedback from the crypto community. Verge and Secret Network have confirmed their crypto offerings will continue to remain listed on Binance. 

Meanwhile, the exchange will restrict trading services for Monero, MobileCoin, Firo, Horizen and Beam under its revised plans.   

Privacy coins refer to cryptocurrencies that maintain the anonymity of users by obfuscating transactions on the blockchain. As a result, regulators across the globe have cracked down on privacy coins to reduce money laundering crimes.  

Written by
Author's profile picture

Ayush Pande

Ayush Pande is a hardware, gaming, and crypto writer based in India. He's a tech enthusiast who's fascinated by the potential of blockchain technology.

Connect with Ayush on LinkedIn
Written by
Ayush Pande