Binance has elected to go the opposite way of delisting privacy coins in Europe. The development has happened post improving operations to follow local guidelines, as stated by Cointelegraph.

“After carefully considering feedback from our community and several projects, we have revised how we classify privacy coins on our platform to comply with EU-wide regulatory requirements,” Binance stated. 

According to Cointelegraph, Binance informed about being “obliged” to follow local regulations,  to enable exchanges to “be able to monitor transactions for coins listed on our platform.” Reportedly, Binance was expected to delist tokens in France, Italy, Spain and Poland. From what it’s understood, this update would have prevented transactions around 12 privacy tokens from June 26, 2023, onwards. 

Based on Cointelegraph’s data, different projects have tweeted to provide assurance to community members. On June 22, 2023, Verge Currency revealed its update, along with Secret Network also informing that Binance will not delist the currency. 

Moreover, Cointelegraph noted that these Binance-based developments are happening on account of EU drafting its digital asset-oriented standards, with regard to Markets in Crypto-Assets (MiCA) rules. The laws came into force on May 31, 2023.

(With insights from Cointelegraph)

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