Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Chinese crypto journalist and blogger Colin Wu has tweeted that Huobi exchange intends to stop supporting privacy coins, citing its blog post published earlier today.
The major crypto trading venue referred to the latest financial regulations that demand it to delist these coins — DASH, XMR, ZEC, ZEN and a few others.
Yuri MolchanThe blog post says that the platform has already terminated trading with these coins — a week ago. The full delisting will occur on Sept. 19. Deposits will be shut down later today, on Sept. 12. Withdrawals, however, will continue to be available and will be shut down later.
Huobi Global will stop the service of the following privacy tokens: DASH, DCR, FIRO, XMR, XVG, ZEC, and ZEN on Sept 6, 2022. The delisting of these tokens is scheduled to start at 08:00 (UTC), Sept 19, 2022. https://t.co/mpqVkcf8vZ
— Wu Blockchain (@WuBlockchain) September 12, 2022
Last year, major U.S. exchange Bittrex also removed Monero (XMR), DASH and Zcash (ZEC). In 2020, South Korean regulators decided to ban privacy coins, which offer transactions that are almost impossible to track. The ban on them was announced in 2021.
Besides, Monero is popular with criminals on the dark net.
Vladislav Sopov
Dan Burgin