Privacy coins are quietly being relegated to the fringes of the Blockchain space. Pressured by external forces, two Australian exchanges have begun to delist a number of privacy coins including Monero (XMR) and Bytecoin (BCN).
On
August 24, YouTuber Alex Saunders tweeted a screenshot of what appears
to be an announcement from the Australian exchange, Coinspot. This
announcement seemed to suggest that several privacy coins were going to
be delisted by August 31:
Another Twitter user alleged
that CoinSpot was not the only one planning to delist privacy coins,
claiming that Swiftx, another Australian exchange, was planning to do
the same.
On the same day, Chainalysis announced
that it was partnering with CoinSpot and Coinjar "to improve compliance
standards". It appears that neither exchange has confirmed the
impending delistings. Cointelegraph contacted CoinSpot's customer
support asking whether Monero was going to be delisted. A representative
from the company replied, confirming the news while also alluding to
the reason behind the decision:
Since we began operating
in 2013 we have faced many instances in which pressure from external
institutions have attempted to stifle or restrict our business. In each
of these instances we have always worked hard to coordinate the best
possible outcome for our members. We do not take these decisions lightly
as we do believe that cryptocurrency trading services should be as
accessible as possible to all Australians.
The representative assured that there will be no forced trading of assets, and users will still be able to withdraw their coins.
One
of the currencies that was originally marked for removal by CoinSpot
was Komodo's KMD. However, Komodo was convinced that this was an error
as KMD's privacy feature has been disabled for a long time according to
the project's CTO Kadan Stadelmann:
Komodo does not have
the privacy feature enabled for a long time. We have a legal opinion
backing this claim. So although the Komodo Platform does offer privacy
tech, the Komodo Token (KMD) itself does not offer privacy technology.
Stadelman
confirmed to Cointelegraph that the issue has since been resolved and
KMD will not be delisted from CoinSpot. AtomicDEX, a decentralized
exchange that is built on Komodo's technology, currently lists Zcash,
but not Monero.
Major exchanges have no intention of jeopardizing their businesses in order to make these assets available to the users.
source link : https://cointelegraph.com/news/australian-exchanges-delist-privacy-coins-amid-chainalysis-integration
