Binance cancels plan to remove privacy coins in Europe after regulatory amendments

Binance has decided to cancel plans to delist several privacy coins in Europe. After amending the operation to comply with local regulations

Binance said: “After careful consideration of the feedback from our community and projects, We have modified the way we classify Privacy coins on our platform to comply with EU regulatory requirements.”

It also commented that Since it operates as an exchange company registered in different EU countries, it is “necessary” to comply with the local regulations requiring the exchange company. “Transactions can be verified for coins listed on our platform.”

Initially, Binance is delisting Privacy coins for users in France, Italy, Spain and Poland, making them unable to buy or sell 12 Privacy coins from June 26.

According to the emails received by the users, it also included BEAM, XMR, MOB, FIRO and ZEN.

These decisions from Binance come as the European Union has set standards for digital assets with the new Markets in Crypto-Assets (MiCA) regulation, which was signed into law on May 31.

EU policymakers aim to make Europe a hub for crypto and digital assets. In July, the European Securities and Markets Authority plans to launch the MiCA advisory process, with a framework for legislation allowing an 18-month period to be valid.

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