News

Ending Support for Monero(XMR) on 19.02.2020

25-11-2019

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.

On 29.11.2019 we will end accepting deposits in XMR. All Monero holders are asked to withdraw by 20.05.2020 at the latest. In addition, due to the XMR network fork taking place on 30.11.2019, XMR withdrawals will be blocked from 29.11.2019 to around 5.12.2019.

Timeline for end of transaction support


29.11.2019 - End of XMR deposits support and XMR withdrawals for the time of the XMR network,

19.02.2020 - End of trading XMR support and orders cancelation,

20.05.2020 - Deadline for XMR withdrawals.

Reason for end of transaction support


Monero (XMR) can selectively utilize anonymity features among projects. This feature of XMR is a subject to end of transaction support. The decision was made to block the possibility of money laundering and inflow from external networks. Monero (and other cryptocurrencies with this specification) has been already delisted on other fiat-crypto exchanges for the same reason. As a licenced exchange, BitBay has to follow the market standards. Compliance with market standards and regulations allows us to provide our clients with legal security and convenience of using the exchange, with the participation of a friendly banking system and the availability of payment operators.