OKX Shakes Up Crypto Market: Delists Major Privacy Tokens Amid Regulatory Review

Cryptocurrency exchange OKX, one of the major offshore trading platforms, has made a significant decision to delist and suspend various privacy tokens. The move, effective as of December 27, will see the removal of several tokens from its platform, including FSN, ZKS, CAPO, CVP, XMR, DASH, ZEC, and ZEN, along with their respective trading pairs.

Delisting Measures and Asset Management for Users

As part of this decision, OKX has already suspended deposits of these tokens since December 27, 2023, urging users to promptly manage their assets. Once the delisting process concludes, users can locate their assets under the section ‘Assets > Funding > Untradable assets.’ Additionally, the exchange plans to suspend withdrawals of these tokens starting from March 5, 2024. OKX has advised users to take timely action to manage their assets in light of these changes.

Commitment to High Standards and Trading Experience

OKX highlighted its commitment to maintaining a robust spot trading environment by continuously monitoring and reviewing listed trading pairs. Aligning with user feedback and the OKX Token Delisting/Hiding Guideline, the exchange decided to delist certain trading pairs that did not meet its stringent listing criteria. This proactive stance underlines OKX’s dedication to ensuring a high-quality trading environment that meets specific criteria for performance and reliability, prioritizing user security and efficiency in their trading experiences.

Also Read: OKX’s 5 Must-Have Standards For Crypto Token Listings

OKX’s Achievement and Focus on Web 3.0

Recently, OKX received the esteemed ‘Best Technical Innovation Award’ at the Hong Kong Web 3.0 Annual Ceremony held at Cyberport, Hong Kong, on December 21. The ceremony, organized by Web3 media company Meta Era, aimed to recognize outstanding contributions to the mass adoption of Web3 technologies. Frank Zhang, OKX HK Executive Director, accepted the award on behalf of OKX, emphasizing the platform’s commitment to technological advancements in the Web3 space.

This recognition further solidifies OKX’s status as a pioneering force driving technological progress within the Web3 ecosystem. The exchange has consistently showcased innovation through the introduction of cutting-edge products such as the Smart Account, powered by account abstraction technology, and the Ordinals Market, a Web3 platform for trading and inscribing BRC-20 and BTC NFTs. OKX continues to lead the charge in technological advancements, further enhancing the Web3 experience for its users.