Bittrex to Delist ‘Privacy Coins’ Monero, Dash and Zcash
Bittrex to Delist ‘Privacy Coins’ Monero, Dash and Zcash
Bittrex announced Friday it will be delisting monero (XMR), zcash (ZEC) and dash (DASH), continuing a trend of so-called privacy coins being delisted by cryptocurrency exchanges.
- In a release, the exchange said the coins' markets will be removed on Friday, Jan. 15, at 23:00 UTC.
- While Bittrex gave no reason for the removals, exchanges around the world have been moving to delist coins that seek to preserve the privacy of their users as a way to be compliant with know-your-customer (KYC) and anti-money laundering (AML) regulations that are spreading around the world.
- For instance, the U.S. Secret Service has urged Congress to create ways to limit the use of privacy-focused cryptocurrencies.
- Dash responded via Tweet, calling the label "privacy coin" a misnomer in its case, saying, "From a technical standpoint, dash's privacy functionality is no greater than bitcoin's." Dash said it's requesting a meeting with Bittrex's compliance team in an effort to be reinstated.
- Shares of all three coins fell on the news: XMR is down 14.44% to $133.75, ZEC fell 12.28% to $55.76.
UPDATE (Jan. 1, 20:16 UTC): Adds coin price reactions, Dash’s response.
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