On Friday, the crypto exchange Bittrex announced that it will delist the three privacy coins of Monero, ZCash and Dash at 23:00 (UTC time) on January 15, 2020.
According to the statement issued by the exchange, the affected include BTC/XMR, ETH/XMR, USDT/XMR, BTC/ZEC, ETH/ZEC, USDT/ZEC, USD/ZEC, BTC/DASH, ETH/DASH, USDT/ There are a total of 11 trading pairs for DASH and USD/DASH.
After the transaction is stopped, Bittrex will provide its users with 30 days to retrieve the relevant tokens. However, the exchange said that if certain special circumstances occur, the period for users to withdraw tokens may be shortened, so it recommends that customers withdraw these three privacy coins as soon as possible.
Previously, the exchange had just delisted XRP tokens due to a lawsuit initiated by the US Securities and Exchange Commission (SEC) against Ripple and its founders. According to a report from "Beijing", the SEC accused Ripple of conducting an unregistered securities issuance of US$1.3 billion in violation of the Securities Act. Several crypto exchanges such as Coinbase have decided to remove XRP tokens from their respective platforms.
However, Bittrex did not give a reason to delist the three privacy coins of Monero, ZCash and Dash, although due to regulatory reasons, in the past year, exchanges in many countries have announced that they do not support the transaction of privacy coins.
After the news came out, the prices of all three types of privacy dropped. According to comparison data, Monero fell 9%, and Dash and ZCash both fell 8%.
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Lots of drama continues to unfold as a lot of exchanges continue delisting tokens. I feel Bittrex reason might be because of a break in the rule or maybe it's not trading enough.
As for ripple (XRP) I think the coin will REKT as more big exchanges announce their delisting. even Binance has announced their intentions in delisting the coin.
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I would not bet on XRP death.
Grayscale people buying a shitload of it and those guys have a lot more information than we do :)
Plus it still fits very well in bankers plans.
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Greyscale buys on customers order, that won't change the fact that if SEC wins the lawsuit against XRP, it will be catastrophic regardless of how many is been bought by greyscale
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I think SEC ruling will be barely noticeable in the long term. Could just be a smokescreen allowing big institutions to step in and justify centralised selling points for the only crypto authorised to pay utility bills or taxes for example.
I admit that’s a pretty doomed theory but can’t be that far from what the current rulers have in mind for the masses.
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W just have to cross our legs and see what happens
and they don't want to get into trouble with SEC policy either,
and referring to the legal process several exchanges want to write off coins that have legal issues with the SEC.
about the three coins I think
bittrex got something they had to remove from the exchange, for the sake of maintaining the trust level of their community
Yes I get that. I think it's game over for XRP
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@lebey1 no friends, this drama will be popular throughout 2021, the ending we will see to what extent the forces (SEC), dominate their centralization of Cryptocurrency policies
SEC will be looking for another scape goat come 2021
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