Ultimatum: Bittrex delists privacy coins Dash, Monero and ZCash
Bitcoin exchange Bittrex is taking down a number of privacy coin. But there is opposition to the move.
Bitcoin exchange Bittrex will suspend trading in three Privacy Coins listed to date. According to a press release, Bittrex customers will no longer be able to trade Monero (XMR), Zcash (ZEC) and DASH from 15 January this year. Users should therefore complete all trading activities by 15 January at the latest.
Users have up to 30 days to withdraw delisted tokens, but in certain cases the withdrawal period may be shortened. Users should withdraw all tokens before The News Spy the specified withdrawal deadline,
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In the announcement, Bittrex does not give any reasons for the delisting. However, one can assume that their status as privacy coins was decisive for the end of trading on the platform.
DASH: Privacy Coin against its will
While XMR and ZEC make no secret of their status as privacy coins, DASH does not want to be lumped together with the two altcoins. According to @Dashpay, the cryptocurrency is not, strictly speaking, a privacy coin.
Technically, Dash’s privacy is no greater than Bitcoin’s, which makes calling Dash a „privacy coin“ misleading. We reached out to @BittrexExchange and asked for a meeting with their compliance team.
This is a somewhat remarkable statement. After all, DASH had always touted itself as a privacy coin in the past. When it was forked from BTC in 2015, DASH was even still called Darkcoin – and has since placed great emphasis on privacy. The PrivateSend feature, for example, is a built-in coin mixer for concealing transactions in DASH. In 2017, DASH was still courting investors on its website as „the first privacy-focused cryptocurrency“.
Although Bittrex has not given any concrete reasons for the delistings, DASHPay CEO Ryan Taylor sees new US regulations against so-called Anonymity Enhanced Cryptocurrencies (AECs) as the reason. Wrongly so, as the CEO then explains. After all, the impending regulation of privacy coins is still a long way off and DASH is not a privacy coin at all.
Dash is not an AEC! As a Bitcoin fork, all Dash transactions are completely transparent. All inputs, outputs, addresses and amounts are recorded for every single transaction and are available on the blockchain for everyone to see.
Since the delisting was announced, DASH is down 15 percent, XMR is down 20 percent and ZEC is down 10 percent.