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.
The 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.