Privacy tokens ZCash (ZCH), Monero (XMR), and Dash (DASH) saw a 10% decline after major cryptocurrency exchange OKX announced on Friday that it would remove its trading pairs on January 5.
On its website, OKX stated, “We will be delisting several trading pairs that do not fulfil our listing criteria, based on feedback from users and the OKX Token Delisting / Hiding Guideline.”
Many of the listed tokens are classified as enhanced privacy tokens, even though OKX did not state clearly that it was banning them.
Cryptocurrencies known as “privacy coins” protect user anonymity by masking the money transfer within their networks. They are unpopular with regulators and make it difficult to figure out who sent what to whom, which is helpful if you don’t want someone prying into your financial activities.