Horizen Scraps Privacy Coin Moniker Amid Regulatory Scrutiny

📆 6/28/2023 2:27 PM
📰 CoinDesk

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.horizenglobal has scrapped its privacy coin moniker after regulatory scrutiny over the asset class and has deprecated its mainchain shielded pools. Reporting by oknightcrypto.

in March that highlighted the anti-money laundering risk associated with the tokens.

"Zen will no longer be considered a privacy coin after the deprecation of the mainchain shielded pools," Horizen wrote on Twitter."We are actively working with our exchange partners to keep ZEN accessible for our global users." The token is currently trading at $7.09 after making a slight move to the upside as its trading pairs struggled to maintain liquidity on Binance and Coinbase, according toHorizen is backed by crypto hedge fund Grayscale's Horizen Trust, which is worth around $4.3 million, according to

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