Decision made due to compliance policy

In response to mounting concerns from regulators all over the world, the Chinese cryptocurrency exchange Huobi has stated that it will delist a number of privacy-focused tokens, including Zcash and Monero.

Tokens will be delisted on September 19th

According to a statement from the company, “Huobi Global carefully implements each country’s compliance policy and consistently seeks to protect the assets of our users.”

Privacy tokens like Monero, as opposed to Bitcoin or Ether, are intended to thwart tracking. Although many crypto supporters place a high priority on privacy, regulators are becoming more concerned about the privacy of digital assets.

Since its launch in 2019, the Office of Foreign Assets Control of the Treasury Department has charged Tornado Cash with concealing cryptocurrency transactions and laundering tokens worth more than $7 billion.

The British Virgin Islands’ financial watchdog organization recently granted Huobi a license to run a bitcoin exchange.