RATE Group | European Crypto Exchange Bitbay Ends Monero Trading due to Anonymity Features
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European Crypto Exchange Bitbay Ends Monero Trading due to Anonymity Features

28 Nov European Crypto Exchange Bitbay Ends Monero Trading due to Anonymity Features

Posted at 11:24h in Cryptocurrency News by

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European Crypto Exchange Bitbay Ends Monero Trading due to Anonymity Features

Authorities around the world are trying to stamp out online anonymity in various ways, sacrificing users’ privacy for alleged security. One of these ways is forcing digital asset exchanges to drop support for some cryptos, as European venue Bitbay is now the latest to do with monero.

Also Read: Europol: Hardcore Criminals Are Shifting From Bitcoin to Monero, Zcash and Dash

Bitbay Drops Monero Support

European cryptocurrency exchange, Bitbay, has announced its decision to terminate support for the privacy-focused coin monero (XMR). The company will stop accepting deposits in XMR on 29 November, 2019 and the end of trading will take place on 19 February, 2020. All monero holders are asked to withdraw it from Bitbay by 20 May, 2020 at the latest. The given reason for the move is security concerns over monero’s anonymity features that might interfere with the company’s compliance with regulations.

Founded in 2014 in Katowice, Poland, Bitbay is said…

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