In a surprising move, Binance, one of the leading cryptocurrency exchanges, has announced that it will remove four altcoins from its platform starting February 20th. The affected coins are Aragon (ANT), Multichain (MULTI), Vai (VAI), and the privacy-focused Monero (XMR), which has attracted the most attention.
While the exact reasons for these removals remain unclear, it has sparked speculation and concerns about the changing rules for cryptocurrency exchanges.
Privacy Worries and Regulatory Pressure
Experts believe that Monero’s ability to keep transactions private might be a reason for its removal. Monero has gained a reputation for being used in illicit activities due to its difficulty in tracing transactions. This has caught the attention of regulators worldwide who are pushing for stricter rules to prevent money laundering and ensure customer identification in the cryptocurrency industry.
Read more: timestabloid.com