Cryptocurrency exchange Huobi will delist privacy-focused cryptocurrencies like monero (XMR) and zcash (ZEC) due to regulatory concerns, the exchange said.
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Besides XMR and ZEC, Huobi will also delist dash (DASH), decred (DCR), firo (FIRO), and verge (XVG). The exchange said:
"Huobi Global strictly complies with the compliance policies of every country and region and always endeavors to safeguard our users' assets."
Huobi didn't specify what was the exact reason behind the action. The move comes after the US Department of the Treasury's Office of Foreign Assets Control (OFAC) listed crypto mixer Tornado Cash into its sanction list for laundering over $7 billion worth of crypto since 2019.
The OFAC said that the smart contract helped North Korean hackers Lazarus Group launder $455 million of stolen crypto. Moreover, Tornado Cash reportedly helped launder over $96 million from the Harmony bridge heist as well as $7.8 million from the Nomad bridge hack.
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