{"id":3412,"date":"2023-12-30T07:58:11","date_gmt":"2023-12-30T07:58:11","guid":{"rendered":"https:\/\/ethereumcode.io\/market-dips-okx-ends-privacy-coins-regulation\/"},"modified":"2023-12-30T07:58:11","modified_gmt":"2023-12-30T07:58:11","slug":"market-dips-okx-ends-privacy-coins-regulation","status":"publish","type":"post","link":"https:\/\/ethereumcode.io\/market-dips-okx-ends-privacy-coins-regulation\/","title":{"rendered":"Market Dips as Okx Ends Relationship with Privacy Coins Due to Regulatory Pressure"},"content":{"rendered":"
\n2023 was indeed a challenging year for privacy coins. They have been on the receiving end of the heightened regulatory stringency. To comply with this, Okx announced on December 27, 2023, that they would delist a total of 20 trading pairs with effect from January 5, 2024. In consequence, the exchange has suspended deposits for a handful of coins that include ZEN, XMR, CAPO, DASH, FSN, CVP, ZKS, and ZEC. An embargo on withdrawals for these tokens is also planned from March 5, 2024.\n<\/p>\n \nThese impactful measures are guided by Okx’s prudential judgement to ensure a healthy and robust trading atmosphere. The platform closely observes all trading pairs behavior and, based on users’ feedback and built-in delisting guidelines, the exchange decided to remove certain pairs that do not meet their quality standards.\n<\/p>\n \nThe reaction to this delisting wave from Okx and Binance is mixed. While privacy advocates have voiced their concerns and discontent, others believe that disruption would be minimal and some private coins will still manage to flourish, even without the exchange support.\n<\/p>\n \nThe impact of this move was quickly felt in the market. On Friday, following Okx’s announcement, the worth of many privacy coins plummeted, showing an overall privacy coin market downtrend over 6% against the USD. The values of each XMR, ZEC, and DASH moved down by 3.6%, 11.3%, and 9% respectively, in a 24-hour trading period.\n<\/p>\n
\nIn a surprising move showcasing the ever-increasing regulatory pressures, Okx, a highly reputed cryptocurrency exchange, has decided to remove numerous trading pairs connected to well-known privacy tokens – including Monero, Zcash, and Dash! This decision reflects the exchange’s proactive nature in responding to its users’ feedback, along with staying compliant with the platform’s criteria for delisting.
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