© Reuters.
Binance, one of the world’s largest cryptocurrency exchanges, has placed Monero (XMR), Zcash (ZEC), and Horizen (ZEN) on its Monitoring Tag, reflecting increased attention to privacy-focused cryptocurrencies. The move, announced today, is driven by concerns over liquidity, regulatory compliance and reputational risks.
The exchange’s actions are indicative of a broader trend within the industry, where exchanges are paying greater attention to privacy coins. This is partly a response to regulatory challenges that have intensified following recent market events.
The impact of this surveillance is tangible. For example, the recent delisting of Tornado Cash (TORN) from the platform resulted in a significant drop in its market value. Binance’s current watchlist suggests other tokens including Aragon (ANT), Firo (FIRO), Keep3rV1 (KP3R), Mdex (MDX), MobileCoin (MOB), Reef Finance (REEF), and Venus (VAI ), could potentially be subject to delisting, which would likely affect their market performance.
OKX, another major exchange, has also taken similar steps by removing trading pairs for privacy coins. These moves underscore the growing pressure on cryptocurrency platforms to ensure compliance with regulatory standards, particularly regarding tokens that offer enhanced privacy features, which can complicate regulatory oversight and enforcement efforts. against money laundering.
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