Okx to Cut Ties With Privacy Coins Amid Regulatory Heat, Triggering Market Dip

Okx Removes Spot Trading Pairs Linked to Privacy Tokens

In response to the recent removal of privacy coins by Binance, Okx, a cryptocurrency exchange, has announced that it will also be removing various spot trading pairs associated with privacy tokens such as monero, zcash, and dash. This decision by Okx is attributed to user feedback and the exchange's established guidelines for delisting.

Privacy Tokens Face Delisting Wave

Privacy coins have been facing increased scrutiny due to regulatory and compliance requirements in 2023. Okx has revealed that it will be removing a total of 20 trading pairs, which will cease operation on January 5, 2024. Prior to this announcement, Okx had already halted deposits for ZEN, XMR, CAPO, DASH, FSN, CVP, ZKS, and ZEC on December 27. The suspension of withdrawals for these coins is scheduled for March 5, 2024.

"In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis," Okx explains. "Based on feedback from users and the Okx Token Delisting / Hiding Guideline, we will be delisting several trading pairs that do not fulfill our listing criteria."

Discontent and Indifference Surround Delisting Moves

Advocates of privacy have expressed their discontent with the delisting actions taken by both Okx and Binance. However, there are also arguments suggesting that the delisting will have little impact on the future success of certain privacy coins, as they will continue to thrive regardless of exchange support.

Market Dip Following Delisting Announcement

Following the announcement of the delisting, the value of many privacy coins experienced a significant dip. In a 24-hour period, the entire privacy coin market declined by over 6% against the U.S. dollar. XMR fell by 3.6%, ZEC decreased by 11.3%, and DASH lost 9%.

What are your thoughts on Okx's decision to delist privacy coins? Share your opinions in the comments section below.




How To

Investing In Gold vs. Investing In Stocks

Gold investing as an investment vehicle can seem extremely risky these days. This is because most people believe that it is no longer economically profitable to invest gold. This belief comes from the fact most people see gold prices falling due to the global economy. They feel that gold investment would cause them to lose money. In reality, though, gold investment can offer significant benefits. We'll be looking at some of these benefits below.

Gold is the oldest known form of currency. It has been used for thousands of years. It was used all around the world as a reserve of value. Even today, countries such as South Africa continue to rely heavily on it as a form of payment for their citizens.

It is important to determine the price per Gram that you will pay for gold when making a decision about whether or not to invest. You must determine how much gold bullion you can afford per gram before you consider buying it. If you don’t know what the current market price is, you can always call a local jewelry store and ask them their opinion.

It is important to remember that even though gold prices have dropped in recent times, the cost of making gold has risen. The price of gold may have fallen, but the production costs haven’t.

It is important to keep in mind the amount you plan to purchase of gold when you're weighing whether or not it is worth your time. If you intend to only purchase enough gold to cover your wedding rings it may be a smart decision to not buy any gold. It is worth considering if you intend to use it for long-term investment. Selling your gold at a higher value than what you bought can help you make money.

We hope that this article has helped you gain a better understanding and appreciation for gold as an investment option. It is important to research all options before you make any decision. Only after you have done this can you make an informed choice.


By: Jamie Redman
Title: Okx to Cut Ties With Privacy Coins Amid Regulatory Heat, Triggering Market Dip
Sourced From: news.bitcoin.com/okx-to-cut-ties-with-privacy-coins-amid-regulatory-heat-triggering-market-dip/
Published Date: Fri, 29 Dec 2023 18:00:11 +0000

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