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