OKX Exchange removes privacy coins, such as Monero, Dash, and Zcash, from its listing

OKX Exchange has announced its decision to delist 20 trading pairs, a move that includes major privacy coins such as Monero (XMR), Dash (DASH), and Zcash (ZEC), effective from January 5. The primary rationale behind this delisting stems from non-compliance with OKX’s listing criteria, a decision made in accordance with both user feedback and the exchange’s Token Delisting/Hiding Guideline.

As a significant player in the cryptocurrency market, OKX recorded a substantial spot trade volume of $60.27 billion last month, contributing over 7.2% to the total market volume.

The move by OKX to discontinue these specific trading pairs underscores the exchange’s commitment to maintaining a compliant and secure trading environment. The removal of these privacy coins aligns with industry trends that reflect a growing emphasis on regulatory compliance within the cryptocurrency space.

Market participants and enthusiasts are closely monitoring the repercussions of OKX’s decision, as the exchange continues to play a pivotal role in shaping the dynamics of the cryptocurrency market. This development further highlights the ongoing evolution and maturation of the crypto industry, with exchanges adapting their policies in response to regulatory considerations and user preferences.

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2024 could be the slumped year of those privacy coins as the crypto market is more regulated in compliance with AML and CTF.