Bittrex, one of the world’s largest and most popular cryptocurrency exchanges, made a delist decision for three leading altcoins. In the statement published by Bittrex, it was stated that three privacy-focused cryptocurrencies will be removed from the platform. The target of the exchange is Monero (XMR), Zcash (ZEC) and Dash (DASH).
Bittrex drives privacy-focused cryptocurrencies crazy
— Bittrex (@BittrexExchange) January 1, 2021
Bittrex will remove XMR, ZEC and DASH cryptocurrencies and all their trading pairs from the platform on January 15. In this context, Bittrex is removing the following trading pairs from the platform:
- BTC / XMR, ETH / XMR, USDT / XMR
- BTC / ZEC, ETH / ZEC, USDT / ZEC, USD / ZEC
- BTC / DASH, ETH / DASH, USDT / DASH, USD / DASH
The common feature of the three cryptocurrencies is that they are privacy-oriented projects. While Dash is often known for its peer-to-peer transfer feature and speed, it is also known to have privacy features. Monero. and Zcash can be shown as the first crypto coins that come to mind when it comes to privacy in the crypto money industry.
The XMR price has increased by 5.7% in the last 24 hours as of the moment this news came out, and there was no downward effect. ZEC has increased by 5.2% Dash and 1.3% in the last 24 hours, revealing that they are not affected by this delist news.
FATF regulations take effect
Larry Cermak, a prominent figure in the cryptocurrency industry, interpreted this as a US-based exchange acting against the conditions imposed by the Financial Action Task Force for the Prevention of Money Laundering (FATF). Cermak stated that similar news could come from other US-based stock exchanges in 2021. In 2019 and 2020, leading cryptocurrency exchanges such as OKEx took similar steps due to FATF regulations.
Although claims that the case filed against Ripple may affect other altcoins are heard in the backstage, it seems that this move is only for privacy-oriented cryptocurrencies.