The European Exchange will Delist Monero (XMR)

Representatives of the BitBay cryptocurrency exchange in an official press release told about their plan to remove the coin from their platform as it does not meet the regulators` requirement.

According to published information, the process of removing XMR from circulation is going to start on November 29. On that day, the deposits in XMR will cease, and to replenish the account balance with coins will no longer be possible.

Cryptocurrency withdrawal will be available until May 20, 2020. True, the management of the exchange warns users that due to the Monero fork, it will be impossible to withdrawal XMR from November 29 to December 5.

The final delisting is planned for February 19, 2020, after which all open buy and sell orders will be automatically canceled. The high anonymity of Monero, which allows it to launder money and have problems with security issues, appears to be a reason for such a decision.

Recall that several exchanges did the same regarding Monero and also Zcash and Dash. This discouraged traders and community representatives who support privacy-oriented cryptocurrencies.

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