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.
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How To
Investing In Gold vs. Investing In Stocks
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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
