1 year ago
The terms of respective privacy-focused cryptocurrencies, including Zcash (ZEC) and Monero (XMR), fell the past time aft crypto speech OKX said connected Dec. 29 that it would delist them connected Jan. 5 due to the fact that they bash not align with its listing criteria.
Data from CryptoSlate shows that the full ‘privacy cryptos’ assemblage witnessed a diminution of 3.4%, impacting large cryptocurrencies crossed the board. During the reporting period, stalwart privateness coins similar Monero and Zcash dipped by 2.4% and 9.37%, respectively.
Other tokens to beryllium delisted by OKX see Dash, Powerpool, and Horizen, which fell by arsenic overmuch arsenic 14% during the reporting period.
“We volition delist the above-mentioned trading pairs astatine the delisting times listed above. We counsel users to cancel orders pertaining to these trading pairs earlier the delisting. Otherwise, the strategy volition automatically cancel these orders. The cancellation whitethorn instrumentality 1-3 moving days,” OKX added.
Concurrently, OKX has halted deposits for the affected cryptocurrencies and intends to cease withdrawals by March 5, 2024, allowing holders capable clip to retreat their assets. Nevertheless, erstwhile the delisting process is complete, trading these integer assets volition go impossible.
Curiously, definite privateness coins similar MINA stay listed connected the exchange, experiencing a 7.5% summation pursuing this delisting announcement.
However, it’s worthy noting that OKX is not exclusively delisting privateness tokens. The speech besides included different trading pairs belonging to integer assets similar Kusama, Flow, Kyber Network, and Aragon successful the assets to beryllium delisted.
Why is OKX delisting privateness coins?
While OKX hasn’t explicitly elaborate the reasons down its decision, observers person suggested that the determination mightiness person been influenced by the exchange’s effort to comply with regulatory measures.
Privacy coins person attracted regulatory scrutiny owed to concerns astir their imaginable usage successful illicit activities wrong the crypto space.
Earlier successful the year, Binance said it would delist respective privateness coins successful compliance with section laws and regulations.
The station OKX delisting triggers terms autumn for privateness coins Zcash and Monero appeared archetypal connected CryptoSlate.
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