OKX crypto exchange to delist privacy tokens in early 2024

    2023.12.29 | exchangesranking | 72onlookers

    Global cryptocurrency exchange OKX will delist several p including Monero (XMR), in early 2024.

    OKX officially announced on Dec. 29 that it will delist a number of trading pairs involving major privacy tokens like Monero and Zcash (ZEC), as well as partly private coins like Dash (DASH) and Horizen (ZEN). The OKX exchange will remove a total of 11 trading pairs involving those tokens on Jan. 5, 2024, the announcement notes.

    OKX’s announcement of delisting privacy and privacy-related coins. Source: OKX

    “In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis,” OKX said in the announcement. The firm added that the decision was made “based on feedback from users” and the OKX token delisting or hiding guidelines.

    In addition, OKX suspended deposits for certain privacy-related coins, including XMR, DASH, ZEC and ZEN on Dec. 27. OKX will also be suspending withdrawals of XMR, DASH, ZEC and ZEN starting from March 5, 2024. “We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary,” the firm noted.

    The OKX crypto exchange is one of the largest cryptocurrency exchanges in the world, trading at least $3 billion in crypto per day, according to data from CoinGecko. At the time of writing, OKX lists a total of 482 trading pairs, including four trading pairs involving Monero, two DASH pairs, three ZEC pairs and two ZEN pairs.

    OKX didn’t immediately respond to Cointelegraph’s request for comment.

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    In announcing the latest delistings, OKX joins several exchanges that have delisted or tried to delist privacy or privacy-related tokens in the past. Cryptocurrency exchange Huobi announced plans to delist seven privacy-related coins in September 2022, citing its token management policy and compliance efforts.

    Binance announced plans to delist all privacy tokens in countries like France and Italy in May 2023 but eventually reversed its decision in June.

    At the time of writing, Binance lists four Monero trading pairs, including XMR/BTC, XMR/ETH/ XMR/USDT and XMR/BNB, as well as three ZEC trading pairs, according to data from CoinMarketCap. According to CoinGecko data, Huobi also lists XMR/USDT and ZEC/USDT trading pairs.

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