The decision followed the European Union's adoption of the Markets in Crypto Assets (MiCA) regulation.

Significantly, #MiCA imposes the "trip rule" on crypto transactions. It therefore raises the possibility that companies that enable privacy coin trading are in violation of EU law.

The trip rule requires #crypto asset service providers to collect certain information about the sender and receiver of crypto transfers. However, this requirement goes against the basic spirit of privacy-enhancing currencies like Monero.

From the beginning, enabling anonymous transactions was the main goal of such tokens.

#Binance decision to end support for such cryptocurrencies marks just the latest blow for privacy coin advocates in Europe. Previously, major exchanges, including Kraken, Huobi and Bittrex, had already removed Monero and Dash.