Skip to main content

Crypto Exchange Binance to Remove Privacy Coins From 4 European Markets

Crypto Exchange Binance to Remove Privacy Coins From 4 European Markets

Multiple reports have revealed that Binance, the crypto exchange with the highest trade volume, has announced the removal of 12 privacy-focused cryptocurrencies from its markets in Spain, France, Poland, and Italy. Commencing on June 26, 2023, users residing in these four countries will no longer have the option to purchase or trade these privacy coins on Binance’s trading platform.

Binance to Delist 12 Privacy Coins in Spain, France, Poland and Italy

Binance has recently informed its customers in France, Spain, Italy, and Poland via email that it intends to remove 12 distinct privacy coins from these markets. Among the privacy coins set to be delisted are dash (DASH), verge (XVG), beam (BEAM), monero (XMR), navcoin (NAV), firo (FIRO), horizen (ZEN), secret (SCRT), zcash (ZEC), pivx (PIVX), decred (DCR), and mobilecoin (MOB).

“Due to local regulatory requirements, Binance is no longer able to offer privacy-enhanced cryptocurrencies in France,” an email to French customers details. “Starting from June 26, 2023, users residing in France will no longer be able to buy or sell the [specific] privacy coins on our platform,” the notice adds.

On Wednesday, the leading privacy coins experienced a 3.2% decline in value against the U.S. dollar. The combined market capitalization of all existing privacy coins currently sits at approximately $5.73 billion, with monero (XMR) taking the lead. XMR has experienced a 2.4% loss today, while the second-largest privacy coin by market capitalization, DASH, has seen a drop of 3.5%. However, despite these losses, the top five privacy coins, based on market capitalization, are displaying positive performance according to seven-day statistics.

Privacy coins have encountered delistings due to regulatory concerns on multiple occasions in the past. In 2021, prominent cryptocurrency exchanges in South Korea made the decision to remove several of the top privacy coins from their platforms. This trend was also witnessed in Japan back in 2018, and it gradually spread across various Asian countries in 2019. The recent news of Binance’s delisting of privacy tokens comes in the wake of its withdrawal from the Canadian market and its challenges with a domestic payment provider in Australian markets.

What are your thoughts on Binance’s decision to delist privacy coins in Spain, France, Poland, and Italy? Share your thoughts and opinions about this subject in the comments section below.



from Bitcoin News https://ift.tt/oBZ15p8
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

International Crypto Exchange Luno Adds Bitcoin Cash Trading

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency available for trading on the exchange, in addition to BTC and ETH , but more options could be on the way once Luno determines that they are credible enough. Also Read: Bitflyer Adds Bitcoin Cash Trading Across Europe and the US Luno Adds Bitcoin Cash Trading Luno, the London-headquartered company formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from Monday, September 23, customers at Luno are now able to store, buy and sell BCH on the platform. The reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to expand their offering from previously just BTC and ETH . Marcus Swanepoel, CEO of Luno, said , “We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and appli...
Post a Comment
Read more

DefiDollar Listing on AscendEX

PRESS RELEASE. AscendEX, formerly BitMax, an industry-leading digital asset trading platform built by Wall Street quant trading veterans, has announced the listing of the DefiDollar Token (DFD) under the pair USDT/DFD on Apr 29 at 1:00 p.m. UTC. DefiDollar is a DeFi lab that aims to bring mass adoption to DeFi with a wide-ranging product suite. The first product offering to go live will be the stablecoin index – DUSD, with ibBTC and optionCoin currently in development. DefiDollar (DUSD) aspires to be a risk-insured stablecoin layer for DeFi. It is designed to provide a safe and stable way for users to hold their assets with DUSD being optimized for peg safety, yield, and diversification. DefiDollar uses DeFi primitives to stay close to the dollar mark. DUSD provides an avenue for diversifying stablecoin holdings to hedge against an event where the underlying stablecoins like Tether or DAI deviate from their peg. DUSD is collateralized by Curve Finance LP tokens. DFD is the n...
Post a Comment
Read more