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OKX Delists Privacy Coins, Citing User Feedback and Regulatory Compliance Priorities

CryptoOKX Delists Privacy Coins, Citing User Feedback and Regulatory Compliance Priorities

Major cryptocurrency exchange OKX has announced the delisting of 20 spot trading pairs in the new year, including privacy-focused cryptocurrencies Monero (XMR), Zcash (ZEC), and Dash (DASH). The exchange cited user feedback and failure to meet listing criteria as reasons for the delisting. OKX has suspended deposits for these assets, and trading will cease on January 5. Customers have until March 5, 2024, to withdraw these assets. Privacy coins have faced regulatory scrutiny globally due to concerns about potential misuse for illicit activities, leading exchanges to navigate the balance between privacy rights and regulatory compliance. Binance, another major exchange, had previously announced and then reversed a decision to delist privacy coins. The move by OKX reflects a broader industry trend toward prioritizing regulatory compliance over privacy features in cryptocurrencies. The European Union’s Markets in Crypto-Assets Regulation (MiCA) also places obligations on trading platforms regarding crypto-assets with built-in anonymization functions.

By FCCT Editorial Team

Disclaimer: The views expressed in this article are independent views solely of the author(s) expressed in their private capacity.

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