Binance and Firo (privacy coins)

General
1

Have you seen this Binance information (source) ?

Memo :

Why Can’t I Trade Privacy Coins

Invalid Date

1. What are privacy coins?

Privacy coins are cryptocurrencies designed to protect users’ privacy and ensure strong data security. However, the issuance and trading of privacy coins may be restricted by law or regulations in some regions.

2. Why can’t I trade privacy coins?

Due to the regulatory requirements of certain local authorities, users that used certain payment channels to deposit fiat currencies are not allowed to trade privacy coins. You will see the below pop-up when you try to place an order:

By offering you a vast variety of depositing channels, Binance is obligated to adhere to local regulations. If you wish to proceed, your account will be restricted from buying, selling, and trading privacy coins. Privacy coin restrictions may vary across jurisdictions and could include cryptocurrencies such as DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, MOB, and so on. Please ensure there are no unfulfilled trades or open positions involving privacy coins in your Spot, Margin, and Futures accounts. All existing privacy coin balances can only be withdrawn from your account.

2

Hey Zen!
I hadn’t seen this particular page, no, but we’re aware of Binance delisting privacy coins in countries: France, Italy, Spain, and Poland. They sent messages to affected users. Are you in one of these countries, or somewhere completely different and yet still effected?
Here is an article from CoinTelegraph covering it: Binance to delist privacy tokens in France, Italy, Spain and Poland

Just goes to show that DEXes are going to need to be the future of not only privacy cryptocurrencies, but also cryptocurrency as a whole.

1 Like
3

Hi DinkBlitz,
Yes, I am in one of theses countries.
It will become impossible for me to be active as a liquidity provider on Binance FIRO pairs.

4

Hey, you should campaign against your country to stop this from happening, when the power of the masses is big enough, maybe things will be different.

5

More reason to supply it on FiroDEX :slight_smile:

2 Likes
6

That’s the reason we invest in firo, we all knew this day would come, don’t need to convince governments to allow trades since this was expected, its bad for us now but will be good on the long run

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7

I sent a claim to Binance to reopen FIRO buying and selling for all countries, like they did for Monero and ZCash, for example.
I argued that FIRO is not a strict privacy coin because most of FIRO transactions are public.
I invite as many people as possible to do the same.

3 Likes