Leading Bitcoin exchange OKX announced that it has deleted major privacy tokens from the platform. OKX’s move comes as it reviews regulatory guidelines. The exchange has stated that it aims to stay clear of any regulatory friction. Following this development, the privacy tokens in question witnessed sharp declines.
Bitcoin exchange OKX delisted, token prices crashed!
OKX, the second largest offshore exchange, announced that it has delisted some privacy tokens. The Bitcoin exchange announced that it has delisted “FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC and ZEN” and their corresponding transaction parities, effective December 27. Additionally, as part of the measures, OKX has suspended the deposit of the said tokens as of December 27, 2023 at 11:00 UTC.
Following this development, there were sharp declines in the relevant token prices. Fusion (FSN) price in particular saw a vertical decline. FSN fell from $0.2336 during the day to $0.1766 with the delist news of the Bitcoin exchange. Although the altcoin later recovered some of its losses, it continues to remain at low levels. At press time, FSN was changing hands at $0.194, losing approximately 14% on a daily basis.
After the delist news of the Bitcoin exchange, the DASH price saw a decrease from $ 38 to $ 35. At press time, the token was trading at $34.86, down over 8% on a daily basis.
Besides these, ZKSpace (ZKS) witnessed a deep decline. Although the altcoin later recovered, it is trading down more than 18%. Similarly, the Horizen (ZEN) price also experienced a crash. ZEN lost more than 14% of its value.
OKX warned users about some issues
Meanwhile, the exchange will suspend the withdrawal of the specified tokens as of 11:00 CEST on March 5, 2024. The Bitcoin exchange advised users to take timely action to manage their assets in light of these changes. OKX underlined its commitment to providing a flexible spot trading environment through continuous monitoring and periodic review of listed trading pairs.
This proactive approach reflects Bitcoin exchange OKX’s commitment to maintaining high standards and providing users with a trading environment that meets established criteria for quality and performance. The exchange said it continues to focus on optimizing its offerings and developing a safe and efficient spot trading experience for its users.
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