Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Crypto Exchanges => Topic started by: fallenangel1789 on January 02, 2021, 05:02:59 AM
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope They will not be another XRP.
Announcement: https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope It will not be another XRP.
Hmm this will be another worst day in cryptocurrency. I witnessed Zcash & Xmr price increase as well as market demands in 2017. But it's not only Bittrex, some other exchanges will be delist this shitcoin. Because their is no usecase can be achievable with this coin.
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope They will not be another XRP.
Announcement: https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21
That was expected because of the SEC pressures from those platforms that were based in the US territory, the Monero's privacy-centric features were considered by US SEC and other agencies as a potential threat to their operation because of its superb privacy function. and we are not surprised if many other exchanges will follow that move sooner or later.
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They wrote about the fight against confidential coins for a long time, but apparently now the governments have decided to act more decisively and require delisting from the exchanges. If so, then we may soon see the delisting of these coins on all exchanges registered in the USA jurisdiction.
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It was a real shock for me and I was very surprised. I have no idea what will happen next. And what will happen to these coins, it's good that I never kept them in my portfolio.
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There is high chance of dump in prices of all these 3 privacy based coins, it seems like bittrex is trying to go extra mile to stay safe and compliant with regulators as governments and regulators do not like privacy based coins and there is high chance they will be banned or atleast announced to be illegal and exchanges can move to delist them due to this.
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What does this mean, Could it be that delisting of 3 coins from Bittrex will affect the price of these 3 coins, or is there even another Crypto exchange that will erase the 3 coins. Honestly I was surprised by this news, I hope all will be well.
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It is a direct attack on anonymous currencies. It looks like the SEC is going to extend its claws beyond XRP. I hope not all exchanges do the same. If all XMR, DASH and ZEC holders sell their bags those 3 markets will collapse, if they do (I would not like) at least I would like that money to enter other good coins/tokens.
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I do not expect these three coins to be removed from the trading list of other exchanges, late 2020 and early 2021 there is a lot of news about xrp and now these three coins, could there be more news in the future?
I hope the prifasi coins are not removed for fear of regulations from government agencies, we are in the world of crypto and privacy coins are still the choice of many people today because anonymous users still want a transaction system that cannot be tracked for certain purposes.
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@Ghozrd in this case the problem is the SEC, if the SEC starts suing the exchanges (from USA) that work with anonymous currencies, those currencies must be eliminated preventively at least until the courts order it. If after the processes there are no legal problems they can be listed again.
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They have done that after seeing a security issue with XRP. SEC could change all those coins too and not only those there are many other popular CMC coin that is a privacy coin and could be in the ban list. But if there is not any problem with them maybe they will list those coins again.
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Even if they haven't received any notification from the SEC or the courts, Bittrex can remove those pairs to prevent potential lawsuits or bigger issues until things are sorted out. In fact, I think it's okay for them to do it the way they are doing and not have worse problems.
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There is a certain pressure from the SEC, probably exchanges somehow guess the next steps of the regulator, and those coins and projects that the SEC wants to bring charges in the future.
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope They will not be another XRP.
We could not blame USA-based exchanges to be taking the influence of the government as they can never do business while in opposition to it, no matter how wish this is not true. The government can use its full power to make anybody in the USA bend their knees. When things can be tremendously affecting one's business, there is no choice but to follow rules, regulations and policies set by the government. No wonder that Bittrex is now closing its doors to private coins and XRP. With the coming Biden administration, we should expect more regulations in placed for the whole cryptocurrency industry.
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope They will not be another XRP.
Announcement: https://bittrex.zendesk.com/hc/en-us/articles/360054393492-Pending-Market-Removals-01-15-21
Yeah, I've read this news about what Bittrex did to Ripple, also Binance was suspending the deposit and withdrawal too
into XRP as well, I do hope so that the other exchange was on top in the market, will not do the same thing as what this two platform did into Ripple.
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Before delisting these coins, Bittrex has made an announcement beforehand so it is safe for us because we can withdraw our assets in these coins, but this will have a little impact on the coins that are delisted from this market.
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Before delisting these coins, Bittrex has made an announcement beforehand so it is safe for us because we can withdraw our assets in these coins, but this will have a little impact on the coins that are delisted from this market.
Bittrex (and all exchanges) is obliged to give its clients a grace period to withdraw their funds, otherwise they would be acting against the law with the legal problems that this may have. What I would like to know is if all exchanges based in the United States are going to have to do the same to be legally covered or at the moment it is only a matter of Bittrex.
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That is because they are security tokens?
Well, many more exchanges are delisting this kind of token, and probably they will delist XRP.
In this case, cryptocurrency is about decentralized systems but now it is not like that. The regulation by the countries has come out about it and regulate the crypto world. sad
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Yeah will affect the price later. Why is it when the bullrun has news that seems to want to stop the price increase? Will Bitcoin get bad news next so it will experience a price correction?
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I think it won't be the next XRP and will have no big impact on the crypto market. We already have XRP which is delisted from some exchanges. But we don't see big impacts on the crypto market as a whole. So, don't worry, guys!
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@Alter for me it is not a concern for the market. For me it is concern about the present and future attacks that the SEC will carry out. The money coming out of DASH, XMR and ZEC will go to others coins/tokens. The really worrying thing is that without a lawsuit, some exchanges like Bittrex act like this, that's because maybe they know what's coming.
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If there issues are also the same with XRP like about security tokens then probably they will receive the same fate of XRP. I just wonder of why the SEC is so much concern about cryptos security? Is this still about money laundering concern issue or they are just against Crypto currency like almost banning Bitcoin before but they failed and just regulated it?
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@marcsymons it can be for money laundering, drugs, terrorism and many other things, things that are also done with FIAT. The thing is they don't want there to be anonymity in cryptocurrencies. They want users to leave a trace, so they can control us as they cannot control all cryptocurrencies.
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This is bad news for privacy coins investors, for sure it would go dump if there is another exchanges that will delisting those privacy coins. As I checked those xmr, zec and dash seems they already went down slowly maybe the investors are starting to convert their privacy coins into some altcoins.
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This is a nightmare for cryptocurrencies where the government tries to intervene in the circulation of cryptocurrency in their country which results in centralized exchanges choosing to delist the cryptocurrency to avoid problems.
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@marcsymons it can be for money laundering, drugs, terrorism and many other things, things that are also done with FIAT. The thing is they don't want there to be anonymity in cryptocurrencies. They want users to leave a trace, so they can control us as they cannot control all cryptocurrencies.
Very well said. It's all about control. That's the war against privacy crypto's. But I think that the market will move to crypto friendly countries.
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Thanks @tsakf. Individual control is the most logical option, what the SEC is doing is making exchanges remove anonymous currencies and all their pairs without receiving any legal notice. That's their way of controlling and that's what they want us to feel. They want to rule us in fear.
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Bad news for their holders. if many more exchanges are delisting the coins, it means that the future of the coins is not good enough. Moreover, this is about the STo token and we should relate to the certain country rules and regulations.
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U.S. cryptocurrency exchange Bittrex will be delisting the privacy coins on January 15. I suppose other exchanges will not follow Bittrex. I hope It will not be another XRP.
Hmm this will be another worst day in cryptocurrency. I witnessed Zcash & Xmr price increase as well as market demands in 2017. But it's not only Bittrex, some other exchanges will be delist this shitcoin. Because their is no usecase can be achievable with this coin.
They are not to be considered as shitcoin. I think it is because of their functionslity— being Anonymous and maybe it is a threat to other country where illegal works are rampant and these crypt of are too useful for them.
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That is because they are security tokens?
Well, many more exchanges are delisting this kind of token, and probably they will delist XRP.
In this case, cryptocurrency is about decentralized systems but now it is not like that. The regulation by the countries has come out about it and regulate the crypto world. sad
Monero, ZCash and Dash are excluded from the list of US exchanges due to the negative attitude towards them by the SEC. These are cryptocurrencies with the highest level of anonymity, and since because of these features they are often used by criminals for illegal purposes, it is quite natural that this causes a negative attitude towards them from states such as the United States.
This should not affect other cryptocurrencies, just like the ripple incident and the indictment of its top executives.
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Only in Bittrex maybe because of the regulation of the US. Maybe they think privacy coin is a threat, but I'm not worried because a lot of exchanges out there still open mind with privacy coins
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Bittrex mentioned that there might be certain circumstances due to which a trader may not be able to withdraw their funds. For instance, there might be technical issues. like the blockchain is “broken” or stops functioning properly.
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Only in Bittrex maybe because of the regulation of the US. Maybe they think privacy coin is a threat, but I'm not worried because a lot of exchanges out there still open mind with privacy coins
Regardless of whether this is a prifasi coin or not, I actually didn't expect Bittrex to delist these three coins, even though these coins are actually in the top ranks.
I hope this will not have a downward impact on the price for all three, even if Bittrex removed it traders can of course still trade this coin on other exchanges.
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As expected - if you can't defeat the enemy, then lead them! To take control of the cryptocurrency turnover of funds, they will start small, gradually replacing decentralized coins and adding their own (fully controlled)
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It's very sad and it wouldn't make sense if Dash, Monero and Zcash were removed from the Bittrex exchange.
I think these three coins are very large market capitalists so it would be the best choice for Bittrex to take advantage of.
Maybe this is just a joke from Bittrex or indeed Bittrex is getting a tight guard from the SEC for security from money laundering.
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The problem is not that Bittrex does it, the problem would be that all exchanges did it. The worst of all is that they do it for two reasons, because of fear or pressure from some sector. The hope we have left is that the capitalization of those 3 currencies will go to another part of the cryptocurrency market. But things don't look good.
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As far as I know, the rules in America are very strict and America is the headquarters of the SEC, where the SEC regulates all the financial systems in America.
Bittrex is a cryptocurrency exchange headquartered in America and it is certain that Bittrex will submit to the SEC in America.
I don't know I'm also confused about what happened to the SEC but the point is that maybe the SEC wants to prosper all cryptocurency traders without money laundering.
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I wonder why should be delisted? Is it only because they are privacy coins or any other reasons?
We know that they are not dead coins, not shitcoins. And they are valuable enough. But if it is related to privacy coins, is it too risky or related to certain regulations?
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@UNIVERSE I ask myself the same questions since the news was published. Bittrex has not published any lawsuits by the SEC and we know that the economic health of those coins is good. Taking into account the above I can only think is that Bittrex knows what is going to happen and they want to cover themselves legally so as not to have problems. If anyone comes up with another reason, I'd like to know more.