Binance Classifies Zcash and Monero as High-Risk | BasEx News
Binance Classifies Zcash and Monero as High-Risk Crypto Assets
08.01.2023
Binance Classifies Zcash and Monero as High-Risk Crypto Assets

Leading cryptocurrency exchange Binance recently applied 'monitoring tags' to some cryptocurrencies, including privacy-oriented Monero and Zcash.

'Cryptocurrencies marked with a monitoring tag often exhibit increased volatility and carry certain risks. We closely monitor these assets and conduct regular reviews,' Binance stated.

In addition to Monero (XMR) and Zcash (ZEC), the following are under observation:

  • Aragon (ANT);
  • Firo (FIRO);
  • Keep3rV1 (KP3R);
  • Mdex (MDX);
  • MobileCoin (MOB);
  • Reef (REEF);
  • Vai (VAI);
  • Horizen (ZEN).

'Be aware that cryptocurrencies with a monitoring tag may in the future fail to meet Binance's listing criteria,' the company warns.

Users are required to complete surveys related to the risks of using these crypto assets every 90 days to access trading.

'The monitoring tag for FIRO and other anonymous cryptocurrencies was introduced in response to increasing regulatory pressure, including the impact of MiCA, initiatives in the USA, as well as in compliance with Binance's agreement with the Department of Justice,' comments Firo co-founder Reuben Yap in an interview with The Block.

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