Cryptocurrency exchange Binance announced on Thursday (4th) that it will add "watch tags" to 10 cryptocurrencies on the platform, including privacy sector currencies such as Monero (XMR), ZEC, ZEN and FIRO. , and warned that the tokens may no longer meet the exchange’s listing standards.
The coins that will be included in Binance’s watch tag list are as follows:
- Aragon（ANT）
- Firo (FIRO)
- Keep3rV1 (KP3R)
- Mdex(MDX)
- MobileCoin(MOB)
- Reef(REEF)
- Vai(VAI)
- Monero (XMR)
- Zcash (ZEC)
- Horizen(ZEN)
Binance said in the announcement:
"Watch-tagged tokens may have higher volatility and risk than other listed tokens. We will closely monitor and continue to review. Please be aware that trading these tokens with a watch-tagged is There is a risk that these tokens no longer meet the standards when they were listed on our platform, and if there is no improvement, they may be delisted.”
Binance added that users will need to pass a corresponding quiz every 90 days on the Binance spot or margin platform to gain access to trade these watch-tagged tokens.
In this regard, Firo co-founder Reuben Yap said in an interview with "The Block":
“FIRO and other privacy coins have been added to the watch label due to increasing regulatory pressure, including from MiCA, recent actions by U.S. regulators, and compliance with Binance’s settlement agreement with the U.S. Department of Justice.”
Yap added that Firo has been in active discussions with Binance on the matter since September 2023. In order to balance the exchange's compliance requirements without sacrificing user privacy, the Firo team proposed to the community a proposal to implement "Exchange Addresses". It is said that by using "Exchange Addresses", the exchange Be able to prove to regulators that they can see the history of deposit addresses.
Last week, the OKX exchange also announced that it would take action against a variety of tokens including ANT, XMR, ZEC, and ZEN. According tothe announcement , OKX will gradually delist trading pairs of multiple currencies on Thursday and Friday, including ANT-USDC, XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, ZEC-BTC, ZEC- USDT, ZEC-USDC, ZEN-BTC and ZEN-USDT.
