Cryptocurrency exchange Binance has reversed its decision to delist certain privacy coins in select European countries. Instead, it will reclassify the coins. The decision came after consultations with the community and various projects. Binance will maintain listings for decred, dash, zcash, PIVX, navcoin, secret, and verge in France, Italy, Poland, and Spain. However, beam, monero, mobilecoin, firo, and horizen will still be delisted. The change in approach aligns with the regulatory obligations of the E.U. jurisdictions. In May, Binance had announced plans to delist privacy coins and implement the move today. This decision was based on E.U. regulations requiring transaction monitoring and the new MiCA laws. Binance’s reversal was influenced by feedback from the community. Privacy projects Secret Network and Verge celebrated the decision, as their coins will not be affected. Privacy coins mask transaction specifics, making them difficult to trace and raising money laundering concerns. Binance has faced regulatory developments recently, including its withdrawal from the Netherlands and Cyprus, as well as investigations for alleged money laundering in France.
Continue reading on Crypto.news
By
By
By
By
By
By