Binance Overturns Restriction on Privacy Coins for Europeans
Binance has reversed its decision to halt privacy coins in four European nations, to align with the EU regulatory requirements.
Binance CEO responds to claim his crypto exchange is a ‘walking time bomb’
The chief executive of the largest online exchange for cryptocurrency, Binance, took aim at economist Nouriel Roubini after he called Changpeng ‘CZ’ Zhao and his exchange a ‘walking time bomb.’
Appearing at the the Milken Institute’s Middle East and Africa Summit, Roubini described Changpeng Zhao as one of the “seven Cs of crypto” – an unflattering list which also included “concealed, corrupt, crooks, criminals, con men, carnival barkers.”
Roubini described crypto and some of its major players as an “ecosystem that is totally corrupt.”
Zhao’s response to the criticism was simple: “We don’t care,” he told CNBC’s Dan Murphy.
“Negative energy doesn’t make it far in life and those people will generally stay poor,” he said.
BINANCE IS DONE. THE US GOES POSTAL.
Ex-Google TechLead on the end of Binance and US racism.
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Binance Just Did THIS, And It CHANGES EVERYTHING For People In America
In what can only be described as a dramatic turn of events, Binance has recently announced that they will be suspending USD US Dollar deposits on their website and will be transitioning to a “crypto only” exchange within the United States for the time being. Within the next few days US dollar deposits will be halted and trading pairs on Binance listed against the dollar will be halted as well
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Binance Overturns Restriction on Privacy Coins for European Customers
Binance’s initial plan to delist specific privacy coins in certain EU nations has now been reversed as the company undertook revisions to ensure compliance with regional regulatory requirements.
The global crypto exchange said that it would reverse its initial plans to halt the trading of privacy tokens in Spain, France, Italy and Poland, after considering community feedback and engaging with various projects.
Last month, Binance told European users over email, that it would no longer offer 12 privacy-focused coins, starting June 26. However, the exchange said it would spare seven tokens from delisting from the four EU nations, including Decred (DCR), Dash (DASH), Zcash (ZEC), PIVX (PIVX), Navcoin (NAV), Secret (SCRT) and Verge (XVG).
“Beam (BEAM), Monero (XMR), MobileCoin (MOB), Firo (FRO) and Horizen (ZEN) are still included in the restrictions,” Binance told The Block.
“After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements,” a Binance spokesperson told cryptonews via email.
EU’s New MiCA Regulatory Framework for Crypto.
The European Union’s new groundbreaking crypto regulations are due to take effect on 29 June, according to the EU Official Journal on 9 June. This requires crypto firms to comply with its provisions by that date.
The second version of this law could possibly address topics such as DeFi, NFTs, lending, staking, among others that were not covered in the previous version of Markets in Crypto Assets (MiCA).
“As a crypto exchange with registrations in different EU jurisdictions, we are obliged to follow EU regulations that require exchanges to be able to monitor transactions for coins listed on our platform,” the exchange said in the email statement to cryptonews.
Earlier, crypto exchanges such as Kraken, Bittrex and Huobi had already delisted popular privacy coins like Dash and Monero.
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