Binance’s Assessment of Privacy Coins Sparks Speculation on Delisting
Binance, the largest cryptocurrency exchange, is reportedly conducting a comprehensive review of privacy coins listed on its platform, with potential considerations for delisting some.
Talks with project representatives began in November 2023, driven by Binance’s concerns about the difficulty in determining the origin of funds in certain Zcash transactions. Jason McGee, a Zcash community grants member, has been in regular discussions with Binance, highlighting efforts to enhance compliance with the upcoming MiCA implementation.
Despite rejecting a proposed solution during a meeting on January 11, Binance intends to evaluate discussions with privacy coin projects and may delist coins based on adherence to its requests. McGee emphasized the Zcash team’s cooperation to prevent delisting, attributing any potential action to Binance’s firm stance on privacy coins rather than a lack of viable proposals. Binance, continuing to monitor various cryptocurrency assets, including Zcash and Monero, expects to make a decision by January 19.
Clever Robot News Desk 17th January 2024
