OKX announced today that DASH, CVP and ZEN assets, along with ZEC and XMR, will be removed from the platform as of January 5 on the grounds that they do not meet the listing criteria. As of now, deposits for these cryptocurrencies are closed, while withdrawals can be made until March 5, 2024.
OKX also announced that along with these privacy-focused cryptocurrencies, KSM, FLOW, KNC and ANT assets will also cease trading. Following the announcement, losses in ZEC and ZEN reached 10%, while XMR fell close to 4%.
Why did OKX make such a decision?
While there is no detailed information about OKX's decision to delist privacy-focused crypto assets at the end of the year, rumors in the market suggest that the exchange has chosen this path to avoid regulatory pressure.
While privacy-focused cryptocurrencies offer their users an advantage in terms of surveillance, these cryptocurrencies are under the close scrutiny of regulators due to their potential to be used in illegal activities. Binance, the crypto exchange that felt the most regulatory pressure earlier this year, also removed several privacy-focused cryptocurrencies from its platform.
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