Binance delists Monero

On February 6, 2024, Binance announced it will delist Monero (XMR), a privacy-focused cryptocurrency, from its trading platform effective February 20.

The decision follows Binance’s periodic reviews of listed assets, which consider factors such as regulatory compliance and community engagement. Monero’s privacy features have drawn scrutiny from regulators.

Following the announcement, XMR dropped nearly 30% to a 20-month low of $114.26, according to TradingView data.

Binance’s move mirrors similar actions by other exchanges, including OKX, which previously delisted Monero, Dash, and ZCash due to regulatory concerns.

Withdrawals of Monero and other affected tokens will be unsupported after May 20, as part of the delisting process.

FAQ

Why is Binance delisting Monero?

Binance cited evolving industry standards and regulatory concerns related to privacy coins.

How did the market react?

Monero’s price fell about 30%, reaching its lowest level since June 2022.

What happens after delisting?

Trading will cease on February 20, and withdrawals will be disabled after May 20.