Binance to Delist Monero, $XMR Plummented to Multimonth Lows

Binance to Delist Monero, $XMR Plummented to Multimonth Lows

Reported by Cointelegraph, major privacy-focused cryptocurrency Monero has plummeted to multimonth lows amid Binance announcing the upcoming delisting of the token from its platform.

Binance will delist Monero alongside other tokens like Aragon (ANT), Multichain (MULTI) and Vai (VAI) on Feb. 20, 2024, the exchange announced on Feb. 6.

The decision to delist XMR is based on various factors, including “contribution to a healthy and sustainable crypto ecosystem,” “evidence of unethical or fraudulent conduct or negligence,” as well as responsiveness to Binance’s periodic due diligence requests and others.

Binance isn’t the only exchange to delist Monero. In late 2023, crypto exchange OKX also said it would delist Monero and another privacy-focused coin, Zcash on Jan. 5, 2024.

Binance also previously announced plans to delist all privacy tokens in countries like France and Italy in May 2023 but eventually reversed its decision in June 2023.

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