Privacy tokens reach highest delisting rate in 2024 — Kaiko Privacy tokens reach highest delisting rate in 2024 — Kaiko
Monero delistings increase six-fold in one year, followed by Dash's nearly 20 removals from crypto exchanges.
1 min read
Updated: Oct. 7, 2024 at 10:25 pm UTC
Cover art/illustration via CryptoSlate. Image includes combined content which may include AI-generated content.
Privacy tokens underwent nearly 60 delistings by centralized exchanges this year, a record since 2021, according to a recent Kaiko report.
The report tracked Monero (XMR), Dash (DASH), Decred (DCR), Mask (MASK), Rose (ROSE), and Zcash (ZEC). XMR suffered the most delistings, with a 6x yearly increase, while DASH experienced the second-highest number of delistings.
According to the report, these delistings are primarily driven by regulatory pressure in various jurisdictions over the past years.
Regulatory pressure
According to Chainalysis, Japan banned privacy coins’ trading in 2018. In 2020, Australian and South Korean regulators followed this move and started pressuring crypto exchanges.
Other significant jurisdictions that have banned privacy tokens include the UAE, which released its crypto rules last year, and the EU, which implemented the Markets in Crypto-Assets (MiCA) regulation.
Surging regulatory pressure has resulted in many crypto exchanges delisting privacy tokens. Kraken recently removed access to XMR trading pairs for European users, while Binance completely delisted the token from its platform.
Additionally, OKX delisted its privacy token trading pairs in January of this year, while Huobi started its removal efforts in September 2022. All of the exchanges cited regulatory pressure as the primary factor behind their decisions.
According to the Kaiko report, crypto trading platforms facing lesser regulatory scrutiny, such as Poloniex and Yobit, have captured part of the trading volume for privacy tokens.
The two exchanges now represent nearly 40% of the trading volume for top privacy tokens, up from just 18% in 2021.
Additionally, the demand for these tokens has become so high on these platforms that they often exceed order book liquidity, the report added.
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Author 
Gino Matos
Gino Matos is a law school graduate and a seasoned journalist with six years of experience in the crypto industry. His expertise primarily focuses on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
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In this article
Monero is an open-source cryptocurrency that focuses on privacy, decentralization, and scalability..
Dash
$28.7866
Dash is a digital currency that enables anyone, anywhere in the world to make quick, easy and cheap payments at any time without going through a central authority.
Zcash
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Zcash is a decentralized and open-source cryptocurrency that offers privacy and selective transparency of transactions using advanced cryptography.
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Decred is an open and progressive cryptocurrency with a system of community-based governance integrated into its blockchain..
Mask Network
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Mask Network is a decentralized portal that allows users to seamlessly send encrypted messages, use dapps like crypto payment, decentralized finance, decentralized storage, e-commerce (digital goods / NFTs), decentralized organizations (DAO) over the top of existing social networks without migrating, and thereby creates a decentralized Applet (DApplet) ecosystem..
Kaiko
Kaiko is a market data provider in the blockchain-based digital assets space, founded in 2014, that provides institutional investors and market participants with enterprise-grade data infrastructure.
Binance
Binance is a global cryptocurrency exchange that provides a platform for trading more than 100 cryptocurrencies.
OKX
OKX is a world-leading digital asset exchange, providing advanced financial services to global traders by using blockchain technology.
Kraken
Kraken is a San Francisco-based digital asset exchange in euro volume and liquidity that trades various currencies, including Canadian dollars, US dollars, British pounds, and Japanese yen.
Poloniex
Poloniex is a US-based cryptocurrency exchange platform offering a wide variety of digital assets.
HTX
Huobi, a virtual asset exchange, launched a revised branding strategy on September 13, 2023, where “Huobi” will be rebranded as “HTX.” “H” stands for Huobi, “T” represents TRON with a commitment to being all in TRON, and “X” stands for the exchange.