Cryptocurrency exchange Bittrex announced last Friday through an official statement it plans to drop support for the privacy-focused cryptos Monero (XMR), Zcash (ZEC) and Dash (DASH).
According to the announcement, the exchange plans to stop offering the cryptos from January 15 at 23:00 UTC.
It should be noted Bittrex has not claimed any particular reason for the withdrawal of the assets. However, the move should not come as a surprise if we consider that a large number of platforms are withdrawing privacy-focused currencies in order to comply with know your customer (KYC) and anti-money laundering (AML) regulations.
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Agencies around the world are trying to reduce the use of these types of assets by users, as their special features help hide the identity of participants in transactions, something that authorities do not want because they could be used to finance criminal activities.
The US Secret Service has recently asked the Congress to create ways to limit the use of privacy-focused cryptos.
The price of the affected assets has fallen significantly after the decision of the exchange was known.