Binance keeps privacy coins in Europe.

Binance has reversed its plan to remove several privacy coins from its European platform after adapting to comply with local regulations. The cryptocurrency exchange stated on June 26 that it had revised its classification of privacy coins on its platform to meet EU-wide regulatory requirements, following feedback from users and projects. Binance operates as an exchange registered in various European Union jurisdictions, meaning it is obliged to adhere to local regulations that require exchanges to monitor transactions for listed coins. Initially, Binance planned to delist 12 privacy tokens for users in France, Italy, Spain, and Poland from June 26, including Decred (DCR), Dash (DASH), Zcash (ZEC), Horizen (ZEN), PIVX (PIVX), Navcoin (NAV), Secret (SCRT), Verge (XVG), Firo (FIRO), Beam (BEAM), Monero (XMR), and MobileCoin (MOB). However, the decision has since been retracted, with Verge Currency and the Secret Network among the currencies that will not be delisted.

Binance’s decision comes as the EU implements its Markets in Crypto-Assets (MiCA) regulations, which were signed into law on May 31 to establish clear-cut regulations for digital assets. The EU aims to make Europe a hub for crypto and digital assets, and the framework for these laws will allow an 18-month timeline to take full effect. Ripple and other companies in the industry have welcomed the regulatory clarity from MiCA regulations.

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