OKX Exchange Announces Delisting of Privacy Coins in 2024 Following User Feedback

OKX has announced plans to delist several privacy tokens, including well-known ones like Monero (XMR), Zcash (ZEC), Dash (DASH), and Horizen (ZEN), in early 2024. This decision, impacting a total of 11 trading pairs, is part of OKX’s commitment to maintaining a robust spot trading environment.

User Feedback and Delisting Guidelines

OKX’s decision is influenced by user feedback and the exchange’s token delisting guidelines. The exchange emphasizes regular monitoring and reviewing of all listed trading pairs to ensure they meet the necessary qualifications for listing.

Suspension of Deposits and Withdrawals

Deposits for certain privacy-related coins were suspended on December 27, 2023. OKX also plans to suspend withdrawals of XMR, DASH, ZEC, and ZEN starting from March 5, 2024. This move is part of the exchange’s ongoing effort to monitor listed trading pairs and apply delisting or hiding mechanisms as required.

OKX’s Market Position

As one of the world’s largest cryptocurrency exchanges, OKX trades at least $3 billion in crypto per day. Currently, it lists a total of 482 trading pairs, including those involving the soon-to-be-delisted privacy tokens.

Global Trend of Delisting Privacy Tokens

OKX is not alone in its decision to delist privacy tokens. Other exchanges like Huobi and Binance have also made moves to delist or restrict privacy tokens, citing compliance efforts and token management policies. However, Binance reversed its decision to delist all privacy tokens in certain countries, like France and Italy, in June 2023.

Continued Availability on Other Exchanges

Despite these delistings, privacy tokens like Monero and Zcash continue to be listed on other major exchanges like Binance and Huobi, offering various trading pairs.

OKX’s Future Compliance and Monitoring Efforts

OKX remains committed to compliance and the integrity of its trading environment. The exchange will continue to monitor all listed trading pairs and make decisions based on the evolving landscape of the crypto market and regulatory requirements.