Binance to delist privacy tokens in France, Italy, Spain and Poland

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Crypto Law

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Wednesday, 31 May 2023

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Cointelegraph By Helen Partz

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Original Article

Binance users in France, Italy, Poland and Spain will no longer be able to buy or sell 12 privacy tokens starting from June 26.

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Cryptocurrency is going to become less private in Europe as the major exchange Binance is preparing to delist all privacy tokens in countries like France and Italy.

Starting from June 26, privacy tokens like Monero (XMR) or Zcash (ZEC) will no longer be available for trading for Binance customers in France, Italy, Poland and Spain.

A spokesperson for Binance told Cointelegraph that the new restrictions affect a total of 12 coins. The affected tokens include Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), BEAM (BEAM), Monero (XMR) and MobileCoin (MOB).

“While we aim to support as many quality projects as possible, we are required to follow local laws and regulations regarding the trading of privacy coins, to ensure we can continue to serve as many users as we can,” a representative of Binance said, adding:

“As part of Binance’s ongoing compliance processes, we have reached out to affected users, to notify them that they will no longer be able to purchase or trade privacy tokens on our platform after June 26th.”

In an email to French customers, Binance said that it was no longer able to offer enhanced anonymity crypto assets, or CAE, in several European countries due to local regulatory requirements.

This article is developing and will be updated.