Binance has decided to reverse its plan to delist several privacy coins in Europe after revising operations to comply with local regulations.
It also commented that since it operates as an exchange registered in various European Union jurisdictions, it is obliged to follow local regulations that require exchanges to be able to monitor transactions for coins listed on our platform.
Initially, Binance was to delist privacy tokens for users in France, Italy, Spain and Poland, rendering them unable to buy or sell 12 privacy tokens beginning on June 26.
Per the emails users received, BEAM, XMR, MOB, FIRO and ZEN are still included in the restrictions.
These decisions from Binance come as the EU has been ironing out its standards for digital assets with its new Markets in Crypto-Assets regulations, which were signed into law on May 31.
With clear-cut regulations, EU policymakers aim to make Europe a hub for crypto and digital assets. In July, the European Securities and Markets Authority plans to launch a MiCA consultation process, with the framework for the laws allowing an 18-month timeline to take full effect.
Companies in the industry, such as cryptocurrency payments service provider Ripple, have welcomed the regulatory clarity from MiCA regulations.
