Huobi Delists Monero For Regulatory Pressures

As regulatory pressure increases on anonymity-enhanced currencies (AECs), Huobi will delist seven different privacy coins from its platform.

The exchange declared the termination of a number of privacy token trading services, including Dash (DSH), Decred (DCR), Firo (FIRO), Monero (XMR), Verge (XVG), Zcash (ZEC), and Horizen (ZEN).

These tokens will be delisted beginning September 19, with deposit services ceasing on Monday in conjunction with the announcement. Users were advised to cancel any open orders for the privacy coins, and the exchange will cancel any outstanding orders at the moment of delisting and credit users’ spot accounts.

Huobi stated that it worked hard to meet the compliance policies of the more than 100 countries where its services are available. The notice referenced the company’s Token Management Rules as well as attempts to comply with the most recent financial standards.

Article 17(16) of its rules list addresses “trading concealment or suspension,” which allows Huobi Global the authority to conceal or suspend token trading under the following conditions. Clause 16 specifically targets privacy coins:

“The token is a privacy token, does not support offline signatures, or its node source codes are not open-sourced.”

The exchange also verified that trading services for futures, margin, ETP, OTC, and trading bots had been discontinued. Previously, trading pairs DASH/USDT, ZEC/USDT, ZEN/USDT, XMR/USDT perpetuals were also announced to be delisted by Huobi.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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