The crypto exchange Bittrex announced that it will remove the privacy coins Monero (XMR), ZCash and Dash as of 02:00 CET on Saturday, January 16.
The Bermuda-proprietary exchange has attracted attention as it is a class of cryptocurrencies, all of which are delisted, offering privacy-oriented coins, namely, untraceable transactions. Monero is a private coin by default. ZCash and Dash have an option for special transactions.
— Bittrex (@BittrexExchange) January 1, 2021
Privacy-focused cryptocurrencies cannot be easily tracked
Privacy cryptocurrencies are being closely scrutinized by regulators for allegedly facilitating illegal activities. For example, the darknet marketplace White House Market only accepts Monero transactions due to privacy features; It is easier to track Bitcoin transactions.
Bittrex cites the reasons for the removal of tokens from the list of “changing regulatory standards and other compliance issues.
Earlier this week, Bittrex was one of the few exchanges that dropped XRP from the list after the US Securities and Exchange Commission sued the founders of XRP for a $ 1.3 billion increase through an unregistered sale of securities. Ripple, on the other hand, denies the allegations.