Huobi, once one of the largest Chinese cryptocurrency exchanges, will delist a number of privacy-focused tokens, including Zcash and Monero, amid growing regulatory concerns around the world.
“Huobi Global strictly adheres to the compliance policies of each country and always strives to protect the assets of our users,” the firm said in a statement on September 11. The tokens that will be delisted on September 19 are Zcash, Monero, Dash, Decred, Firo, and Verge.
Unlike Bitcoin or Ether, privacy tokens such as Monero are designed to avoid tracking. Privacy is a major objective of many crypto proponents, however, increasing regulatory concerns in the digital-asset privacy sector.
The US Treasury Department’s Office of Foreign Asset Control accused Tornado Cash, a project of masking crypto transactionsTo launder more than $7 billion worth of tokens since it was created in 2019. The agency approved not only digital wallets tied to Tornado Cash, but also code that runs on the blockchain known as smart contracts.
Huobi recently received a license from the financial watchdog to operate a crypto exchange in the British Virgin Islands.
This story has been published without modification in text from a wire agency feed.
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