OKX Exchange to Delist Privacy Coins, Including Monero, in 2024

At the beginning of 2024, the global cryptocurrency exchange OKX will delist various cryptocurrencies, including Monero.

OKX made the official announcement on December 29 that it will delist a variety of trading pairings that involve key privacy tokens such as Monero and Zcash, in addition to partially private coins such as Dash and Horizen (ZEN).

According to the release, on January 5, 2024, the OKX exchange would eliminate a total of eleven trading pairs that involve those tokens. “We constantly monitor the performance of all listed trading pairs and review their listing qualifications regularly,” OKX stated in the release.

OKX’s announcement of delisting privacy and privacy-related coins. Source: OKX

OKX stated in the release that they do this to maintain a robust environment for spot trading. The company made the decision based on feedback from users and the OKX token delisting or hiding standards. In addition, on December 27th, OKX announced that it would be suspending deposits for several privacy-related cryptocurrencies, including XMR, DASH, ZEC, and ZEN.

Additionally, beginning on March 5, 2024, OKX will make it impossible to withdraw XMR, DASH, ZEC, and ZEN from your account. The company made the following statement: “We will continue to monitor all listed trading pairs and implement the delisting/hiding mechanism as necessary.”

According to data provided by CoinGecko, the OKX cryptocurrency exchange is one of the largest cryptocurrency exchanges in the world. The exchange trades at least $3 billion worth of bitcoin every single day, according to estimates.

OKX now shows a total of 482 trading pairings, which includes four trading pairs involving Monero, two trading pairs involving DASH, three trading pairs between ZEC and ZEN, and two trading pairs between ZEN and ZEC.

OKX joins several other exchanges that have delisted or attempted to delist privacy or privacy-related tokens in the past. Their announcement of the most recent delistings brings them to the same level.

This announcement was made by the cryptocurrency exchange Huobi, which cited its token management policy and compliance initiatives as the reason for its intention to delist seven coins connected to privacy in September 2022.

Binance first indicated in May 2023 that it intended to delist all privacy tokens in countries such as France and Italy, but the company ultimately changed its mind in June of that same year. Binance currently lists three ZEC trading pairs and four Monero trading pairs.

These trading pairs are XMR/BTC, XMR/ETH/USDT, and XMR/BNB. Furthermore, three ZEC trading pairs were added to the list. According to data from CoinGecko, Huobi has listed two additional trading pairs: XMR/USDT and ZEC/USDT.