Huobi to delist Monero and other privacy coins, citing regulatory pressures
The exchange cited its own token management policy and compliance efforts as primary reasons for delisting seven privacy coins. Cryptocurrency exchange Huobi will delist seven different privacy coins from its platform as regulatory pressure mounts on anonymity-enhanced currencies (AECs).The exchange announced that it had terminated the trading service of a number of privacy tokens including Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC) and Horizen (ZEN). These tokens will begin to be delisted on Sep. 19, while deposit services were ceased on Sep. 12 in....
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While Bittrex gave no reason for the removals, exchanges around the world have been moving to delist coins that seek to hide the activity of their users.
Although privacy coins grant users unparalleled protection for their personal information, some fear they can easily be used for illicit purposes. In an email quoted by Reddit users, Kraken, the world's eighth-largest cryptocurrency exchange by trading volume, announced it would be delisting privacy coin Monero (XMR) in compliance with regulations in the United Kingdom. The platform will cease all XMR trading activities, set XMR wallets to withdraw-only, and force-liquidate any existing XMR margin positions after Nov. 26.Through advanced cryptography, privacy coins like Monero obscure....
A wrapped version of the XMR privacy coin has launched on the Ethereum network. Crypto custodian BTSE has launched an ERC-20 token that represents Monero (XMR) on the Ethereum blockchain, giving investors new exposure to the privacy-centric coin. Represented by the ticker symbol WXMR, Wrapped Monero is intended to bring greater liquidity to the DeFi ecosystem. The new asset is fully backed by Monero at a ratio of one-to-one and is secured by BTSE. In a press release that was shared with Cointelegraph, BTSE said WXMR “gives holders of Monero more flexibility to utilize their tokens without....
On May 7, the privacy-centric crypto asset monero captured an all-time high at $515 per unit, as demand for confidential transactions has increased in recent times. Monero has gained more than 190% during the last three months, while a number of other privacy coins like zcash, verge, horizen, and grin have seen significant gains as well. Monero XMR Taps a New ATH Before Most Privacy Coins While cryptocurrencies have been growing wildly in value, the climate of regulation has stepped up a great deal. Governments and blockchain surveillance firms worldwide have been making themselves right....
“Dash is technically no more a ‘privacy coin’ than Bitcoin,” according to Perkins Coie. So why did Shapeshift delist it? Cryptocurrency exchange ShapeShift recently delisted three privacy coins: Dash, Zcash (ZEC) and Monero (XMR). This was an unexpected move to say the least, given the exchange’s historic commitment to privacy.As a noncustodial platform, Shapeshift did not impose user identification requirements on traders in its early days, although this began to change with the gradual introduction of a mandatory membership model, compliant with Know Your Customer rules, as of 2018.Why....