Binance Faces Backlash Over Potential ZEC Delisting Amid Industry Criticism

Binance is under fire after including privacy token Zcash (ZEC) on its ballot for a potential delisting vote. Industry leaders, including Zcash founder Zooko Wilcox, Digital Currency Group founder Barry Silbert, Ledger CTO Charles Guillemet, and Cosmos co-founder Ethan Buchman, have spoken out against the move, stressing the importance of privacy in the crypto space. The controversy comes at a time when regulators worldwide remain wary of privacy coins, with past discussions and leaked EU documents hinting at potential bans and regulatory crackdowns. Alongside ZEC, Binance’s ballot also features FTX’s FTT token and data security platform JASMY, though the bulk of the criticism is focused on the treatment of Zcash. ZEC, currently trading at $31.26, has already experienced a 3.1% drop in the past 24 hours, reflecting investor unease in response to the potential delisting. The backlash underscores broader concerns regarding regulatory scrutiny and the future of privacy tokens on major exchanges.