On Dec. 8, Dutch cryptocurrency exchange LiteBit sent an email to its users stating it would be delisting the privacy coin firo (formerly zcoin).
According to the email, the decision was made “partly due to the privacy aspect of this crypto. The regulator of crypto companies in the Netherlands has indicated that cryptocurrencies aimed at privacy are too high a risk.”
LiteBit confirmed zcoin will be delisted on Dec. 22.
This news comes a few months after Shapeshift delisted monero, zcash and dash. South Korea-based exchange Bithumb also dropped monero in June, continuing a trend of delisting privacy coins by cryptocurrency exchanges that seems unlikely to stop anytime soon.
“At the moment, the impact is primarily limited to smaller or regional exchanges” said Firo project steward Reuben Yap. “However, it signals to the rest of the space that delisting is the only way to remain compliant with AML/KYC [know your customer/anti-money laundering], which isn’t the case at all, setting a bad precedent.”
Delisting around the world
Yap said delistings have become a worldwide trend, especially in Asian countries such as South Korea and Japan. Europe, where privacy regulations like the General Data Protection Regulation (GDPR) would seem more open to privacy-focused coins, has seen …………….
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Original link: https://www.coindesk.com/privacy-coin-advocates-crypto-exchange-delistings