Skip to content
Home » Binance reverses decision to remove private cryptocurrencies from its platform in Europe

Binance reverses decision to remove private cryptocurrencies from its platform in Europe

Binance, the world’s largest cryptocurrency exchange, announced that it will partially reverse the decision announced in May last year to remove trading of 12 privacy cryptocurrencies for 4 European Union (EU) countries from its platform.

according to a post This Friday, June 23, users in the EU countries involved in the decision received the cryptocurrencies Decred (DCR), Secret (SCRT), Verge (XVG), Navcoin (NAV), Zcash (ZEC), Dash (DASH) and PIVX (PIVX), They would not be removed from the platform as before on June 26th behaved.

The Confirmation This fact emerges from the official accounts of some of the cryptocurrencies featured on the list, which announced that Binance would not “delist” them.

The official Verge account, to express on Twitter that XVG would not leave Binance. This with that in mind The cryptocurrency uses a public blockchain with “visible transactions, amounts, and addresses.”

The Secret Network team did the same on the social networkwith the indication that the revocation had been influenced the pressure exerted by the user community of cryptocurrencies, especially Secret (SCRT).

So far, beyond the emails users have received and shared on Twitter, there has been no official public statement from Binance. As CriptoNoticias reported last May, the stock market is was pressured by regulators in Spain, France, Italy and Poland.

According to Binance’s explanations, the requirement indicated that the company would not be able to continue offering its services unless it complies with local regulations and the Market Regulation and Crypto Assets Act ( MiCA) adjusts these 4 countries. .

Currently, Binance’s initial decision to remove support for private cryptocurrencies from the platform for the four European countries is stays with 5 of the 12 announced cryptocurrencies: Monero (XMR), MobileCoin (MOB), Beam (BEAM), Firo (FIRO) and Horizon (ZEN).

It’s worth thinking about Privacy Cryptocurrencies These are the ones that encourage the use of “private and anonymous blockchain transactions by hiding their origin and destination.” Techniques used include hiding users’ wallet balance and address.

The nature of this type of cryptocurrency prevents government prosecution, Argument used to put pressure on Binance.

Leave a Reply

Your email address will not be published. Required fields are marked *