Huobi Global has unveiled its plans to delist privacy tokens, counting Monero (XMR), Dash (DSH), Decred (DCR), Firo (FIRO), Verge (XVG), Zcash (ZEC) and Horizen (ZEN) as the digital assets that will be affected.
The delisting process starts today as all deposit support for the cryptocurrencies has been halted. Huobi said its users who still have some funds in any of these digital assets would have up to September 19 to liquidate their positions into their spot wallets.
According to the exchange, any user who did not exit their respective trade position by then will see the trades automatically closed for them by the Huobi and credited into their spot wallet.
The delisting of these privacy coins can be attributed to mounting regulatory pressures and the failure of the coins to comply with their internal compliance policies. Effectively, the delisting of these tokens is supported by the exchange’s Token Management Rules of which Article 17(16) provides for delisting if “The token is a...
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