Cryptocurrency exchange Binance announced that it will stop trading some privacy coins in Belgium, citing legal compliance.
According to a message sent to Belgian users by Binance's customer service department, the exchange will allow the purchase or sale of Monero (XMR), MobileCoin (MOB), Firo (FIRO) and Horizen (ZEN) tokens on its platform starting September 21, 2023 at 19:00 UTC. will no longer support its trade.
Binance said that exchanges must comply with EU regulations that require them to be able to fully track transactions for coins listed on their platforms, and the privacy coins mentioned above do not support this.
Binance said that exchanges must comply with EU regulations that require them to be able to fully track transactions for coins listed on their platforms, and the privacy coins mentioned above do not support this. Borsa ayrıca, başka bir gizlilik coini olan BEAM’i delist ettiğini ve BEAM yatırma işleminin artık desteklenmeyeceğini belirtti.
Users who hold these privacy coins will still be able to withdraw them from Binance, but will not be able to buy or open new positions with them. The exchange also said it would limit the conversion feature to reduction-only mode, which allows users to sell or close positions but not buy or open new ones.
“While we aim to support as many quality projects as possible, we must comply with local laws and regulations regarding the trading of privacy coins,” a Binance spokesperson said via email in response to questions about the post, which showed the message sent to Belgian users from the exchange's customer service department.
*This is not investment advice.