1 month ago
Privacy tokens underwent astir 60 delistings by centralized exchanges this year, a grounds since 2021, according to a caller Kaiko report.
The study tracked Monero (XMR), Dash (DASH), Decred (DCR), Mask (MASK), Rose (ROSE), and Zcash (ZEC). XMR suffered the astir delistings, with a 6x yearly increase, portion DASH experienced the second-highest fig of delistings.
According to the report, these delistings are chiefly driven by regulatory unit successful assorted jurisdictions implicit the past years.
Regulatory pressure
According to Chainalysis, Japan banned privateness coins’ trading successful 2018. In 2020, Australian and South Korean regulators followed this determination and started pressuring crypto exchanges.
Other important jurisdictions that person banned privateness tokens see the UAE, which released its crypto rules past year, and the EU, which implemented the Markets successful Crypto-Assets (MiCA) regulation.
Surging regulatory unit has resulted successful galore crypto exchanges delisting privateness tokens. Kraken recently removed entree to XMR trading pairs for European users, portion Binance wholly delisted the token from its platform.
Additionally, OKX delisted its privateness token trading pairs successful January of this year, portion Huobi started its removal efforts successful September 2022. All of the exchanges cited regulatory unit arsenic the superior origin down their decisions.
According to the Kaiko report, crypto trading platforms facing lesser regulatory scrutiny, specified arsenic Poloniex and Yobit, person captured portion of the trading measurement for privateness tokens.
The 2 exchanges present correspond astir 40% of the trading measurement for apical privateness tokens, up from conscionable 18% successful 2021.
Additionally, the request for these tokens has go truthful precocious connected these platforms that they often transcend bid publication liquidity, the study added.
The station Privacy tokens scope highest delisting complaint successful 2024 — Kaiko appeared archetypal connected CryptoSlate.
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