OKX to remove anonymous cryptocurrencies XMR, ZEC, and DASH from the platform

According to the statement, the assets do not meet the company’s standards

29.12.2023 - 13:23

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What’s new? Crypto exchange OKX has announced the delisting of several coins, including anonymous Monero (XMR), Zcash (ZEC), and Dash (DASH). The possibility of depositing these assets was terminated back on December 27, withdrawal is possible until March 5, 2024, 08:00 UTC. Non-compliance with strict “listing criteria” is indicated as the reason for the assets’ removal from the platform.

The exchange’s announcement

What else is known? In addition to the aforementioned coins, the exchange will also remove Fusion (FSN), ZKSpace (ZKS), ILCAPO (CAPO), PowerPool Concentrated Voting Power (CVP), and Horizen (ZEN), and the spot trading pairs associated with these assets.

OKX stressed that it regularly analyzes assets available for trading to meet internal standards and removes underperforming assets to “maintain a robust spot trading environment.”

Earlier, OKX CEO Star Xu announced the rules for listing assets on the exchange. According to the entrepreneur, the team analyzes not only the popularity of the coins themselves but also the product and technology at their core, the legitimacy of projects, and the composition of their teams. He said this in response to the proposal to mass list meme tokens based on the BRC20 standard in the Bitcoin network, thus rejecting it.

In February, Dubai regulator VARA banned the issuance of anonymous cryptocurrencies. In June and September, Binance delisted all such assets for users from France, Italy, Spain, Poland, and Belgium due to local legal requirements.

Consequently, the Horizen team removed the transaction anonymization feature in the ZEN 4.1.0 update in September. The abandonment of the anonymous blockchain model was supported by the community.

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