Huobi to Delist Seven Privacy Tokens Amid Regulatory Clampdown
Huobi, one of the world’s leading crypto exchanges, on September 6 terminated trading services for seven privacy tokens, which will begin to be delisted on September 19 in order to achieve compliance with tightening financial regulation around the world.
These tokens include dash (DASH), decred (DCR), firo (FIRO), monero (XMR), verge (XVG), zcash (ZEC) and horizen (ZEN). Deposit services for these tokens ceased on September 12, although withdrawal services continue to function.
“Huobi strictly complies with the compliance policies of every country and region and always endeavors to safeguard our users’ assets,” the exchange said.
Unlike other digital cryptocurrencies, privacy tokens conceal the information present in a typical transaction. Hence, these coins allow for a non-disclosure of identity, providing users with financial privacy. For people who care about privacy, these coins are better than bitcoin. However, some suggest that there can be a vulnerability in their privacy technology.
Apart from the delisting of seven privacy tokens, Huobi also said on September 12 that it will cease trading of AE (Aeternity), AIDOC (AIDOC), BUT (BitUP), MEX (MEX), PNT (Penta), TOS (Things Opreating System) and UC (YouLive Coin). These tokens will be delisted on September 20, as part of its continuous efforts to promote the healthy development of the blockchain ecosystem.
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Founded in 2013, Huobi is one of the world’s leading digital asset service providers, with tens of millions of users across five continents and 160 countries and regions. Huobi has recently secured approval from the Financial Services Commission of the British Virgin Islands to operate a licensed virtual assets exchange under its subsidiary, Brtuomi Worldwide Limited.