Binance Restricts Privacy Cryptos in France

Binance disables trading of 12 cryptocurrencies focused on privacy in France.

Crypto users residing in France received a surprising email from Binance. In the mail sent by Binance, it is stated that cryptocurrencies based on privacy will be restricted due to local regulators.

With the e-mail sent from the stock market to users in France falling into the agenda, effective price drops have also occurred in privacy-oriented cryptocurrencies.

Binance To Disable Privacy Cryptos In France

Binance prohibits crypto clients in France from buying and selling cryptocurrencies that create privacy projects. The exchange, which sent an e-mail to its users in France on the subject, stated that these restrictions were of regulatory origin.

France had moved to swiftly adopt the European Union’s new crypto regulation, MiCA. In Europe, where regulatory and legal clarity is based on crypto, the situation of privacy-oriented crypto projects was also curious.

Binance has targeted privacy-focused crypto projects to adapt to the crypto atmosphere in Europe. The popular crypto exchange said it will stop trading a total of 12 crypto projects in France, including DASH and ZEC. This move from Binance has taken a heavy toll on privacy projects that have taken on a different category in the crypto industry. According to data from CoinGecko, the top 5 privacy-focused crypto projects have created a bearish price chart.

Binance will launch this restriction in France on June 26, 2023. From this date, users will not be able to trade on banned cryptocurrencies. The 12 privacy-focused crypto projects that Binance has virtually banned in France are as follows;

• DCR
• DASH
• ZEC
• ZEN
• PIVX
• NAV
• SCRT
• XVG
• FIRO
• BEAM
• XMR
• MOB