Binance Finally Backs Off Ban on Trading Anonymous Cryptocurrencies Like Monero (XMR) in France and Europe

Last May, the giant Binance announced that it would ban the trading of anonymous cryptocurrencies (privacy coins) in France and in certain European countries of the EU (Spain, Italy) from June 26, 2023.

The crypto exchange said it is finally reversing its decision and that it will not delist cryptocurrencies Decred (DCR), DASH, Zcash (ZEC), Horizen (ZEN), PIVX, NAV, Secret (SCRT), Verge (XVG), FIRO, BEAM, Monero (XMR), Mobile Coin (MOB).

“After carefully considering feedback from our community and multiple projects, we’ve revised how we classify privacy tokens on our platform to comply with EU-wide regulatory requirements,” a Binance spokesperson said.

Therefore, in order not to remove these privacy coins from its crypto trading platform in France and Europe, Binance will classify them specifically to be able to monitor transactions and exchanges related to this type of tokens.

To explain last May its decision to remove these “anonymous” cryptocurrencies, Binance had cited regulatory requirements in France and Europe, which prohibit it from offering crypto-assets with extended anonymity (CAE).

A relief for many Binance users, who will therefore be able to continue buying and selling these cryptocurrencies, i.a. some, like Monero (XMR), are not traceable by the authorities.

Anonymous tokens are actually cryptocurrencies designed for privacy and can be used to send or receive money anytime, anywhere and secretly.

Traders who auto-crypto trade these private tokens with crypto bots of the Kryll type will also be able to keep their automated trading strategies on Binance with these cryptocurrencies.

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