Binance, a cryptocurrency exchange, has reversed its decision to delist certain privacy coins in Europe. This change comes after the exchange adjusted its operations to comply with local regulatory requirements. As a result, seven privacy-focused tokens that were at risk of being removed from the listings have been retained. Binance stated that it revised its classification of privacy coins to meet EU-wide regulatory requirements. The exchange emphasized that it must comply with local regulations as a registered exchange in multiple European Union jurisdictions. These regulations mandate that exchanges monitor transactions involving the coins listed on their platform. In May, Binance informed customers in France, Italy, Spain, and Poland about the discontinuation of trading services for 12 cryptocurrencies known for enabling anonymous transactions. The decision to delist privacy-focused tokens was in response to the European Union’s implementation of the Markets in Crypto Assets (MiCA) regulation, which aims to enhance transparency and information sharing in crypto transactions. While Binance’s decision dealt a blow to advocates of privacy coins in Europe, other jurisdictions like Dubai, Japan, and South Korea have implemented strict measures, including bans, on anonymity-enhancing cryptocurrencies.
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