Regulatory Issues? Binance Adds Monitoring Tags for Privacy Coins such as ZEC and XMR
OKX announced on December 29th that it will delist a large number of privacy coins trading pairs, including ZEC, ZEN, XMR, and DASH. In less than a week, Binance also took related measures. Has privacy coins become the next regulatory focus?
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Binance Adds Monitoring Tag for Privacy Coins
Binance has announced in a statement that following a recent internal review, it has decided to add a monitoring tag to the following cryptocurrencies:
Vai VAI
Firo FIRO
Zcash ZEC
Reef REEF
Mdex MDX
Aragon ANT
Horizen ZEN
Monero XMR
Keep3rV1 KP3R
MobileCoin MOB
According to Binance, a "monitoring tag" indicates that these cryptocurrencies exhibit significantly higher volatility and risk compared to other listed coins. These tokens will be closely monitored and undergo regular reviews.
Furthermore, tokens with monitoring tags may no longer meet Binance's listing standards and may be delisted from the platform. To maintain trading access for tokens with monitoring or seed tags, users will be required to pass the corresponding test on Binance Spot/Margin platform every 90 days and accept the terms of use.
GMX and SUSHI Seed Tags Removal
In the same announcement, Binance also revealed the removal of seed tags for GMX and SUSHI on January 4.
Seed tags are meant to alert users to the potentially higher volatility and risk associated with these cryptocurrencies.
On December 29, OKX announced the delisting of a large number of privacy coins' spot trading pairs, including ZEC, ZEN, XMR, and DASH.
Regulatory concerns expected? OKX Delists Most Privacy Coins Spot Trading Pairs Suddenly