Huobi trading platform will exclude trading pairs with seven confidential cryptocurrencies on September 19: DASH, DCR, FIRO, XMR, XVG, ZEC and ZEN. This is due to increased pressure from regulators.
According to Huobi, the exchange strictly complies with the requirements of regulators. In accordance with Article 17(16) of the Huobi Global Crypto Asset Management Rules, the exchange stopped buying and selling DASH, DCR, FIRO, XMR, XVG, ZEC, and ZEN on September 6. On September 19 at 11:00 a.m. Moscow time, these crypto assets will have to complete their delisting.
On Monday, September 12, Huobi stopped making deposits using these digital assets, however, their withdrawal is still available. The site specialists recommended that users cancel open orders with the listed cryptocurrencies, otherwise the exchange will cancel them automatically upon delisting.
Regulators in different countries believe that confidential cryptocurrencies can be used to evade taxes and commit illegal activities, so they are tightening the requirements for exchanges. A few months ago, a number of South Korean cryptocurrency trading platforms were delisted from LTC. The reason is the new MimbleWimble (MWEB) function, which hides information about transactions.
Last year, Kraken was forced to stop trading Monero for UK traders in order to comply with UK regulators. Earlier, Monero developers said that the US Financial Crimes Enforcement Network (FinCEN) recommendations are not suitable for regulating anonymous cryptocurrencies, as they only apply to regulated assets.
Source: Bits

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