Binances Shocking U-turn on EU Privacy Coin Trading

By Lola Coin Jun 26, 202358Views

Binance, the largest cryptocurrency exchange in the world, has announced that it will continue to offer trading in privacy coins in Europe, reversing its previous decision to delist them. The change in classification will spare seven coins from delisting in France, Italy, Poland, and Spain, including Decred, Dash, Zcash, PIVX, Navcoin, Secret, and Verge. However, other coins such as Monero and MobileCoin will still be subject to restrictions. The decision to delist privacy coins was initially made to comply with EU-wide regulatory requirements related to money laundering concerns. However, after receiving feedback from the community and negotiating with various projects, Binance decided to reverse its decision. The exchange’s recent regulatory issues include failing to acquire approval in the Netherlands, applying to deregister its entity in Cyprus, and facing an investigation in France for alleged money laundering.

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