Bitbay, a cryptocurrency exchange decided to stop its support for Monero (XMR) in the near 2020. An announcement on November 26 said that the trading support will drop on February 19, 2020. In terms of accepting deposits, Bitbay will discontinue it as soon as November 29.
“We are announcing that the end of market trading support for Monero (XMR) will take place on 19.02.2020. At the end of transaction support, XMR orders (buy/sell) requested before the end of the transaction will be canceled.” the announcement stated.
According to Bitbay, the reason behind the decision is because of Monero’s privacy feature. The coin has money laundering risks that is way the exchange must end its transaction support.
This is Monero’s third time as OKEx and UpBit also ended their support last September due to privacy concerns.