BitBay ot Delist Monero

Exchange has to comply with “market standards” and the fight against money laundering
26 November 2019   277

BitBay cryptocurrency exchange announced the termination of support for the Monero cryptocurrency. The platform explained the decision by the need to comply with “market standards” and the fight against money laundering.

Acceptance of deposits at the XMR exchange will stop on November 29, trading will be stopped on February 19, 2020. In addition, due to the Monero network hard fork planned for November 30, the withdrawal of XMR will not be possible from November 29 to December 5.

Users are asked to finally withdraw funds by May 20 of next year.

Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to end of transaction support. The decision was made to block the possibility of money laundering and inflow from external networks. Monero (and other cryptocurrencies with this specification) has been already delisted on other fiat-crypto exchanges for the same reason. As a licenced exchange, BitBay has to follow the market standards.
 

BitBay

 As you can see, BitBay named Monero's anonymity as the reason for delisting.

OKEx Korea to Delist Anonymous Coins Due to FATF

Monero, ZCash, DASH, Horizen and Super Bitcoin won't be supported starting from 10th of October
16 September 2019   434

The Korean division of the OKEx cryptocurrency exchange has announced the delisting of five anonymous coins, as they violate FATF standards.

On October 10, the site will stop supporting Monero, ZCash, DASH, Horizen and Super Bitcoin.

Recall that the FATF obliged the bitcoin exchange and other cryptocurrency service providers (VASPs) to follow AML and CFT procedures similar to traditional financial companies.

VASPs must exchange the personal data of participants in transactions and information about the balance of their wallets.

OKEx Korea emphasized that anonymous cryptocurrencies will not allow the exchange to comply with these rules.