Binance In its announcement today, it announced that it will delist some cryptocurrencies this month. Although the exchange did not make a clear statement about the reasons behind this decision, it gave some clues as to what factors were effective behind the removal.
According to the announcement, Binance launched four different transactions on February 20. cryptocurrency will remove the unit from the list. These currencies are: Aragon (ANT), Multichain (MULTI), Vai (VAI), Monero (XMR).
Following this announcement, prices fell rapidly. Monero, for example, lost a remarkable 17% due to the sharp drop in value after the exchange made the announcement.
monero (XMR) is one of the oldest and most popular altcoins in the industry, and its delisting decision may come as a surprise to some. However, it is important to understand some of the reasons behind this decision. Monero’s main use case, anonymity, is being used by governments around the world. crypto- It may come into conflict as it begins to develop strict identity verification (KYC) and anti-money laundering (AML) policies for its trade. This is a trend where major crypto exchanges are starting to keep their distance from such tokens.
Koinfinans.com It is important to remember that Binance recently faced a major lawsuit with the United States Securities and Exchange Commission (SEC), as we reported. The exchange agreed to pay a huge compensation of up to $4 billion and began to change its policies and approach after this incident. The new CEO stated that they plan to make Binance a company that complies with traditional financial regulations.
However, the reason for delisting Monero and other coins is not clearly stated. While Binance’s announcement provided some hints about possible factors the exchange is considering, no specific reason was clearly stated.
