Binance Backs From Decision In Europe
Binance has revised its operations in order to comply with EU standards and has decided to reverse its plan of delisting several privacy coins in Europe. The decision was made after carefully considering feedback from the community and various projects.
In a statement received on June 26, Binance commented:
“After taking into account the feedback from our community and multiple projects, we have made changes to how we categorize privacy coins on our platform to align with regulatory requirements across the European Union.”
The cryptocurrency exchange also acknowledged that as it operates as an exchange registered in different European Union jurisdictions, it is “obliged” to adhere to local regulations that necessitate the monitoring of transactions involving listed coins.
Initially, Binance had intended to delist privacy tokens for users in France, Italy, Spain, and Poland, which would have prevented them from buying or selling 12 privacy tokens starting from June 26.
According to the emails received by users, the restrictions still include:
As the overall ban has now been rescinded, several projects have taken to Twitter to reassure their community members. Verge Currency, for example, posted an update as early as June 22, stating that it will not be delisted by Binance. The Secret Network also confirmed that it is among the currencies that Binance will retain on its platform.