Thursday, December 8, 2022
 

Huobi Steps Forward to Delist Seven Private Coins Including Monero

  •       Huobi announced that the exchange is delisting seven coins per the regulatory compulsion.
  •       The exchange has the complete authority to suspend any tokens found against its laws.
  •       The deposit service of the coins ended soon after the announcement of delisting.

The Seychelles-based crypto exchange, Huobi announced that they would soon delist seven Anonymity-Enhanced Currencies (AEC), including Monero (XMR), Dash (DSH), Horizon (ZEN), Verge (XVG), Zcash (ZEC), and Firo (FIRO).

The exchange explained that as per their latest financial regulations and conforming to Article 17 (16) of the Huobi Token Management Rules, “Huobi Global has terminated the trading service” of seven coins. It added that the acceleration of the regulatory compulsion over the AECs pushes Huobi to rush forward with the delisting.

Huobi released the news of delisting the seven coins on September 12 on their official site:

Immediately after the announcement, those seven coins’ deposit service ceased. The company persuaded the traders to withdraw the open orders for the private coin. It added that it would be responsible for canceling any existing orders when delisting.

Huobi also assured that if the trader disables the “hide small balance button,” the respective token will be credited to the Spot Account.

According to Article 17, “Trading Concealment or Suspension,” the exchange has the complete authority to conceal or suspend trading of the tokens if they are caught under any circumstance against the company’s rules.

Clause 16 under the article suggests that:

The token is a privacy token, does not support offline signatures, or its node source codes are not open-sourced.

Furthermore, the exchange mentioned that it had already suspended the trading services for the privacy tokens of DASH, DCR, FIRO, XMR, XVG, ZEC, and ZEN in futures, margin, ETP, OTC, and Trading Bot.

  •       Huobi announced that the exchange is delisting seven coins per the regulatory compulsion.
  •       The exchange has the complete authority to suspend any tokens found against its laws.
  •       The deposit service of the coins ended soon after the announcement of delisting.

The Seychelles-based crypto exchange, Huobi announced that they would soon delist seven Anonymity-Enhanced Currencies (AEC), including Monero (XMR), Dash (DSH), Horizon (ZEN), Verge (XVG), Zcash (ZEC), and Firo (FIRO).

The exchange explained that as per their latest financial regulations and conforming to Article 17 (16) of the Huobi Token Management Rules, “Huobi Global has terminated the trading service” of seven coins. It added that the acceleration of the regulatory compulsion over the AECs pushes Huobi to rush forward with the delisting.

Huobi released the news of delisting the seven coins on September 12 on their official site:

Immediately after the announcement, those seven coins’ deposit service ceased. The company persuaded the traders to withdraw the open orders for the private coin. It added that it would be responsible for canceling any existing orders when delisting.

Huobi also assured that if the trader disables the “hide small balance button,” the respective token will be credited to the Spot Account.

According to Article 17, “Trading Concealment or Suspension,” the exchange has the complete authority to conceal or suspend trading of the tokens if they are caught under any circumstance against the company’s rules.

Clause 16 under the article suggests that:

The token is a privacy token, does not support offline signatures, or its node source codes are not open-sourced.

Furthermore, the exchange mentioned that it had already suspended the trading services for the privacy tokens of DASH, DCR, FIRO, XMR, XVG, ZEC, and ZEN in futures, margin, ETP, OTC, and Trading Bot.

 

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