Exchanges Global will remove seven privacy coin projects next week amid tight regulatory scrutiny from global authorities targeting the sector.

Huobi exchange delists 7 most popular privacy coins in the market - Which projects are they?
Floor delisting the 7 most popular privacy coins on the market – which projects are they?

Specifically on September 12, Huobi made an official announcement that both spot and futures trading of coins including Dash (DASH), Decred (DCR), Firo (FIRO), Monero (XMR) , Verge (XVG), () and Horizen () was paused last week. The delisting of all these coins is scheduled to begin on September 19.

Also, depositing for DASH, DCR, FIRO, XMR, XVG, and will also stop working after that but the withdrawal service will continue to be maintained. Huobi said:

“We always strictly follow the legal policies of every country and region in order to enhance our efforts to protect the assets of our users.”

Privacy coin is the field that includes projects protect anonymity by obscuring the flow of transaction money through their network, making it difficult to trace the origin of deposits and who made the transactions. This is very useful for privacy, but it is inadvertently a hindrance for global authorities, so in recent times they have continuously made many cases of attacks on this area.

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A typical example is the case of Litecoin (), after deploying the Mimblewimble historic upgrade on May 23, was quickly delisted by the largest cryptocurrency exchanges in Korea as well as stop supporting deposit and withdrawal of users who use Mimblewimble to transfer, deposit LTC.

A more serious event is Tornado Cash – a platform that allows users to privately transact on their network. . On August 8, the US Department of Treasury listed the Tornado Cash website on the sanctions list, dragging a series of prominent platforms such as: – issuer , Uniswap, , Balancer all block wallets each interaction with this platform.

Things even went so far that the Dutch authorities arrested a developer of Tornado Cash, prompting the community to protest violently. Recently, because of being too "inhibited" with the handling of the US government, the largest exchange in the country sponsored a lawsuit against US Treasury Department sanctions on Tornado Cash.

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