Through a recent press release by exchange Bittrex, it was revealed that monero, zcash, and dash will soon be removed from the market. It was stated that his removal will be implemented on January 15, 2021.
But Bittrexdid does not mention any specific reasons for removing these coins. However, many other crypto exchanges around the globe, have taken steps for removing or delisting these coins. Exchanges claimed that due to these coins, the data of their customers was kept hidden. They also claimed that they didn’t know whom they were dealing with.
However, Know-Your-Customer (KYC) and Anti-Money Laundering (AML) regulations/policies have been adopted by various governments around the world. The regulations/policies required that certain personal data of the user or account holder was to be obtained. This was necessary for the purposes of securing and regularizing the transactions done on the basis of monero, zcash, and dash.
Similarly, the US was working to find out solutions to put certain limits on such cryptocurrencies that can hide the identities of the coin holder or owner. Secret Services of the US was persuading the Congress to put in place such regulations or laws which can restrict the use of privacy cryptocurrency.
Meanwhile, Monero and Zcash, both have made no comments about the suspension of their digital coins’ trade at various crypto exchanges. Nevertheless, later on Dash tweeted a message in which it tried to clear its name from the label of privacy coin. In its message Dash stated that its coin cannot be termed as “privacy coin” in any manner whatsoever. Dash explained that privacy features contained in its coin have been lower than the ones found in Bitcoin or Ethereum per se.
Furthermore, Dash stated further that it will soon clear its name as Bittrex is one of its pioneer partners. It was also informed that Dash has asked Bittrex to set up a time and date for a meeting. An official of Dash told that once the meeting is convened, then they will be in a better position to present their agenda before Bittrex’s team. He also said that they are hopeful that their coins’ trading will soon be reinstated at Bittrex. Once Bittrex is convinced then the job of convincing others would become easier, said the spokesperson.
Once it was revealed that monero, zcash, and dash trading have been suspended by various exchanges, their values dropped rapidly.