Binance has announced that it will stop its users from trading with 4 major altcoins in the Belgium region due to legal responsibilities. The said delist will take place on September 21 and includes important projects. Binance.US, on the other hand, made the delists decision for OMG, dragging the price down.
BinanceUS makes delisting decision for OMG: Price collapsed
According to an announcement from Binance’s US branch, Binance US will remove the OMG Network (OMG) token from its platform. The Delist announcement triggered a sharp drop in the altcoin price by more than 5%. OMG is currently trading at $0.441. As seen in the chart below, a steep red candle has been recorded in the past minutes.
cryptocoin.comWe will be updating the details of the development on this page.
Binance delists 4 privacy altcoins
In the official announcement, Binance has decided to stop trading some privacy-focused cryptocurrencies in Belgium, citing the regulatory compliance requirement. In a message to Belgian users, Binance announced that it will no longer support the trading of cryptocurrencies such as Monero (XMR), MobileCoin (MOB), Firo (FIRO), and Horizen (ZEN) as of September 21, 2023. Binance based this decision on the requirement to comply with EU regulations. He stated that they could not adequately monitor the transactions of the privacy-oriented cryptocurrencies in question.
Privacy coins will be outlawed and delisted from all exchanges.
For Europe it starts now pic.twitter.com/CQ42Q2b8n1— MisterCh0c (@Mister_Ch0c) September 6, 2023
In June, Binance delisted privacy-focused cryptocurrencies in France, Italy, Poland, and Spain. Belgium’s move comes after Binance announced last week that it will serve Belgian users through its presence in Poland. Due to this transition, Polish rules will now apply to Belgian users as well.
“While aiming to support as many quality projects as possible, we need to comply with local laws and regulations regarding the trading of privacy coins,” a Binance spokesperson said. In the post, Binance said, “Customers residing in Belgium will no longer be able to purchase certain privacy coins on our platform. He also said that they cannot exchange. The company referenced privacy-focused cryptocurrencies, including Monero, MobileCoin, Firo, and Horizen.
