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Crypto exchange OKX has announced the delisting of several privacy-focused coins, including Monero (XMR), Dash (DASH), Zcash (ZEC) and Horizen (ZEN).
Other tokens to be delisted are Fusion (FSN), a cross-chain ecosystem for financial transactions; ZKSpace (ZKS) a ZK-based layer 2 solution; meme coin ILCAPO (CAPO) and structured DeFi products token PowerPool Concentrated Voting Power (CVP).
“In order to maintain a robust spot trading environment, we constantly monitor the performance of all listed trading pairs and review their listing qualifications on a regular basis. Based on feedback from users and the OKX Token Delisting / Hiding Guideline, we will be delisting several trading pairs that do not fulfill our listing criteria,” the exchange wrote in an announcement published December 29, 2023.
Specifically, the exchange will end spot trading support for KSM-USDC, FLOW-USDC, JST-USDC, KNC-USDC, ANT-USDC, FSN-USDT, ZKS-USDT, CAPO-USDT, CVP-USDT on January 4, 2024. Meanwhile, XMR-BTC, XMR-ETH, XMR-USDT, XMR-USDC, DASH-BTC, DASH-USDT, ZEC-BTC, ZEC-USDT, ZEC-USDC, ZEN-BTC, and ZEN-USDT will be delisted on January 5, 2024.
Users have been advised to cancel any orders related to the outlined trading pairs before the delisting date. If this does not happen, the exchange will automatically cancel them.
The exchange has consequently suspended deposits for the mentioned cryptocurrencies and will halt withdrawals on March 5, 2024 at 8 am UTC.
Exchange delistings amid regulatory compliance push
OKX’s delisting of the above coins is not the first such move. The platform has removed several trading pairs in the past few months, with the move mirroring a wider push for compliance across the market.
Crypto exchanges, including Binance, have announced the delisting of several spot and futures pairs.
This has come as many crypto trading and exchange platforms apply for and acquire licenses in many jurisdictions. For instance, Coinbase recently received a VASP licence in France as it looks to expand its services and products in the EU.
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