Crypto News – Many currencies and tokens, including several well-known privacy coins, have monitoring tags applied by Binance now. This tag alerts users to the possibility that these assets might no longer satisfy the exchange’s listing requirements.
Binance Monitoring Tag Issued to 10 Different Crypto Assets, Especially Monero and Zcash
The exchange announced in a statement on Thursday that it will add ANT, FIRO, KP3R, MDX, MOB, REEF, VAI, XMR, ZEC, and ZEN to the list that will be monitored.
Tokens with the Monitoring Tag exhibit notably higher volatility and risks compared to other listed tokens. These tokens are closely monitored, with regular reviews conducted. Keep in mind that tokens with the Monitoring Tag are at risk of no longer meeting our listing criteria and being delisted from the platform.”
Binance
Firo Co-Founder Has a More Positive Perspective
One of those who received a tag was Firo, already mentioned above. However, according to the company’s co-founder, the tag was not a devastating blow to the company. The co-founder even implied that they were open to working with Binance.
The monitoring tag has been placed on FIRO along with other privacy coins due to increased regulatory pressure, including from MiCA, recent initiatives from U.S. regulators and compliance to Binance’s settlement with the U.S. DoJ,
However, we have been in active discussions with Binance on this matter since September 2023 and thus far our proposal to implement Exchange Addresses has been received positively. We welcome the active dialogue with Binance and their openness to working together to find a mutually beneficial solution and are confident that Exchange Addresses balances exchange compliance requirements without sacrificing user privacy.
Reuben Yap, co-founder of Firo
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