Privacy Coins Targeted: Bittrex to Delist Monero, ZCash, and Dash

Just a few days after announcing the delisting of Ripple (XRP) following the SEC charges, Bittrex has added three more coins to the list of removals. Interestingly, they are all so-called security tokens – Monero (XMR), Dash (DASH), and ZCash (ZEC).

  • The Seattle, Washington-based cryptocurrency exchange said in a statement earlier today that it will remove Monero, Dash, and ZCash from its global platform. 
  • The company will halt trading for these markets: BTC/XMR, ETH/XMR, USDT/XMR, BTC/ZEC, ETH/ZEC, USDT/ZEC, USD/ZEC, BTC/DASH, ETH/DASH, USDT/DASH, and USD/DASH. 
  • Following the market removals, Bittrex will provide its users with up to 30 days to withdraw the delisted tokens. However, the company warned that the withdrawal period could be shortened in “certain instances.” Consequently, the exchange advised its customers to withdraw the tokens as soon as possible.
  • Today’s announcement comes just days after the trading venue said it will delist Ripple’s native cryptocurrency (XRP). Nevertheless, there’s one significant difference between the two statements.
  • The SEC brought charges against Ripple alleging that the payment processor has conducted a $1.3 billion unregistered security offering. As a result, multiple crypto exchanges decided to remove the XRP token from their respective platforms.
  • While that seemed understandable to an extent, Bittrex has failed to provide any particular reasons why it has decided to delist three of the oldest and most popular cryptocurrencies –Monero, ZCash, and Dash. 
  • It’s worth noting that all three security tokens have plummeted since the announcement. In a matter of minutes, Monero went from $169 to $155, Dash from $102 to $95, and ZCash dropped from $67 to $60.

XMR/USD, ZEC/USD, DASH/USD. Source: TradingViewXMR/USD, ZEC/USD, DASH/USD. Source: TradingView

Publication date: 
01/01/2021 - 19:19

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