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Cryptocurrency will become less private in Europe as major exchange Binance prepares to delist all privacy tokens in countries such as France and Italy.
Starting June 26th, privacy tokens such as Monero (XMR) or Zcash (ZEC) will no longer be available for trading for Binance customers in France, Italy, Poland, and Spain.
A Binance spokesperson told Cointelegraph that the new restrictions affect a total of 12 coins. Affected tokens include Decred (DCR), Dash (Dash), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), BEAM. (BEAM), Monero (XMR) and MobileCoin (MOB).
“While we strive to support as many quality projects as possible, we are required to comply with local laws and regulations regarding privacy coin trading to ensure we can continue to serve as many users as possible,” a Binance spokesperson said. addition:
“As part of Binance’s ongoing compliance processes, we have contacted affected users to notify them that they will no longer be able to buy or trade privacy tokens on our platform after June 26th.”
In an email to French customers, Binance said it is no longer able to offer Enhanced Anonymity or CAE Crypto Assets in several European countries due to local regulatory requirements.
This article is under development and will be updated.