Summary
Monero has been delisted from Binance due to regulatory concerns, with other exchanges following suit in the past. The delisting has caused a drop in the price of XMR, but some traders may be buying the dip. Binance has faced criticism for halting XMR withdrawals ahead of the delisting deadline. The future of Monero remains uncertain as it navigates regulatory challenges.
Key Points
1. Monero has been officially delisted from Binance, the leading exchange by volume, on Tuesday, February 20, marking the end of XMR’s availability on the platform.
2. The delisting comes at a tumultuous time for Binance, as the exchange is focused on gaining the favor of regulators globally, facing investigations and travel restrictions.
3. Monero, known for its privacy-centric features, has faced increasing scrutiny from regulators who argue its anonymity provisions make it a vehicle for financing illicit activities.