Top stories in the Crypto Roundup today:

• BitBay Will Delist Privacy Coin Monero (XMR) Due to Compliance Risk
• Gladius ICO Shuts Down Months After SEC Settlement
• Thai SEC Intends to Amend Crypto Laws to Foster Greater Innovation

At the time of writing, bitcoin (BTC) is trading at $6,915 (-3.53%) with a daily Top Tier volume of $1.81 bn. As for ether (ETH), it is trading at $143 (-2.79%) with a daily Top Tier volume of $341.38 mn. The MVIS CryptoCompare Digital Assets 10 Index is currently tracking at 2,367.46 (-2.98%).

BitBay Will Delist Privacy Coin Monero (XMR) Due to Compliance Risk

BitBay, a top-tier exchange, has said that it will stop trading Monero (XMR) on February 19th 2020. The B-grade exchange said that the decision was made in order to comply with international anti-money laundering standards. 

Deposits for Monero (XMR) will be halted this Friday (Nov. 29) and all users must withdraw their Monero deposits by 20 May, 2020. BitBay stated in its announcement that "the decision was made to block the possibility of money laundering and inflow from external networks."

BitBay is not the only exchange to delist privacy-focused coins due to the compliance risk. Coinbase removed ZCash (ZEC) from its U.K. platform in August. OKEx Korea removed Monero (XMR), horizen (ZEN) and super bitcoin (SBTC) – in September citing FATF’s controversial “travel rule” for digital asset service providers.

Gladius ICO Shuts Down Months After SEC Settlement

Gladius Network, a cryptoasset startup that raised $12.7 million (24,000 ETH) in late 2017 has announced that it is shutting down citing a lack of funds. Alex Godwin, co-founder of Gladius stated in the announcement “despite our best efforts, the company no longer has funds to continue operations.”

Earlier this year the SEC said that the Gladius ICO was not registered under federal securities laws, and has since reached a settlement with Gladius. The SEC asked Gladius to return funds to investors who reuest a refund.

Gladius was developing a P2P network to rent spare bandwidth and storage space which could be used to defend against cyberattacks. The code will be freely available for the next three months, Godwin concluded the announcement with this:

“We still believe in the power of our technology, and if anyone in the community is interested in pursuing it we welcome it.”

Thai SEC Intends to Amend Crypto Laws to Foster Greater Innovation

Thailand’s Securities and Exchange Commission (SEC) reportedly intends to amend its digital asset business regulations in 2020 to make the laws more favorable towards crypto-assets. 

According to a report by local news outlet Bangkok Post, the Thai SEC is planning a series of sweeping amendments to its digital asset business regulations next year in order to facilitate the growth of digital assets while “protecting investors from unnecessary risk.”

So far only five Thai companies have been awarded digital asset exchange licenses to operate within the country.

State of the Crypto by Top Tier Exchange Volume

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