Early in 2024, Cryptocurrency Exchange OKX Will Delist Privacy Tokens

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Last Updated on December 29, 2023 by Bitfinsider

OKX, a global exchange for cryptocurrencies, will delist a number of coins in early 2024, including Monero. On December 29th, OKX made a formal declaration regarding the delisting of several trading pairings that comprised prominent privacy tokens such as Monero and Zcash, in addition to partially private coins like Dash and Horizen (ZEN). On January 5, 2024, the OKX exchange will eliminate eleven trading pairs involving those tokens, according to the announcement notes.

OKX stated in the announcement, “In order to maintain a robust spot trading environment, we review the listing qualifications of all listed trading pairs on a regular basis and monitor their performance continuously.” The company further stated that the determination was “derived from user feedback” and adherence to the OKX token delisting or concealing protocols.

Additionally, on December 27, OKX halted deposits for a number of privacy-focused cryptocurrencies, including XMR, DASH, ZEC, and ZEN. As of March 5, 2024, OKX will also suspend withdrawals of XMR, DASH, ZEC, and ZEN. The company stated, “We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as required.”

CoinGecko data indicates that the OKX crypto exchange is one of the major cryptocurrency exchanges in the world, trading at least $3 billion in cryptocurrencies daily. OKX lists 482 trading pairings as of the time of writing, of which four involve Monero, two involve DASH, three involve ZEC, and two involve ZEN.

OKX joins a number of exchanges that have previously delisted or attempted to delist privacy or privacy-related tokens in its announcement of the most recent delistings. Seven privacy-related cryptocurrencies will be delisted by the cryptocurrency exchange Huobi in September 2022, in accordance with its token management policy and compliance efforts.

In May 2023, Binance declared its intention to remove all privacy tokens from its platform in countries such as France and Italy. However, in June 2023, its stance was reversed.

CoinMarketCap data indicates that as of the time of writing, Binance offers four Monero trading pairs, including XMR/BTC, XMR/ETH, XMR/USDT, and XMR/BNB, in addition to three ZEC trading pairs. Huobi also lists the XMR/USDT and ZEC/USDT trading pairs, per CoinGecko data.

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