There is a news that I just read while I was in the bus today that upbit also delisted same privacy coins. I guess they are all up to the same objection. I guess we'd all be seeing prices going down terribly before the year end. This is a big blow to these type coins, they will be sticking to decentralize exchanges by now.
Topic: Privacy coins getting delisted (Read 688 times)
There is a news that I just read while I was in the bus today that upbit also delisted same privacy coins. I guess they are all up to the same objection. I guess we'd all be seeing prices going down terribly before the year end. This is a big blow to these type coins, they will be sticking to decentralize exchanges by now.
There is a news that I just read while I was in the bus today that upbit also delisted same privacy coins. I guess they are all up to the same objection. I guess we'd all be seeing prices going down terribly before the year end. This is a big blow to these type coins, they will be sticking to decentralize exchanges by now.
The lost of some exchange is the gain of others, for me Privacy coins are one of the few selected coins in the space with real demand for them. The demand for them is huge and as long as the Dark market exit there will continue to be demand, I think they forget to note that the many selling point for BTC was the animosity it offers
Yes I believe that and I don't think other exchange will follow Okex's action, they should offer a solution not delisting them, these are popular coins in the market, and they should know that many of their members support privacy coins, it's really their lost. Its a tough question about privacy coin, from one side people, has right for the privacy of their fund, from there another side a lot of criminal use privacy coin to make their dirty things. I think in future you will only be able to buy privacy coin on the decentralized exchange
I think that decentralized exchanges will be, but still, the biggest part of the people will trade on centralized exchanges. and privacy is important, but it’s just as important to remove the use of cryptocurrencies from the black marketIt's because we don't have good decentralized exchanges yet. We need one where not only tokens are tradeable. One with good trading volume, so that people aren't forced to go back to centralized exchanges
Its a tough question about privacy coin, from one side people, has right for the privacy of their fund, from there another side a lot of criminal use privacy coin to make their dirty things. I think in future you will only be able to buy privacy coin on the decentralized exchange
I think that decentralized exchanges will be, but still, the biggest part of the people will trade on centralized exchanges. and privacy is important, but it’s just as important to remove the use of cryptocurrencies from the black market
Its a tough question about privacy coin, from one side people, has right for the privacy of their fund, from there another side a lot of criminal use privacy coin to make their dirty things. I think in future you will only be able to buy privacy coin on the decentralized exchange
I think that decentralized exchanges will be, but still, the biggest part of the people will trade on centralized exchanges. and privacy is important, but it’s just as important to remove the use of cryptocurrencies from the black market
Its a tough question about privacy coin, from one side people, has right for the privacy of their fund, from there another side a lot of criminal use privacy coin to make their dirty things. I think in future you will only be able to buy privacy coin on the decentralized exchange
This is more reason why privacy coins need to focus more on decentralized exchanges/platforms and less on short-term increase in the coins prices. The exchanges current tolerant posture could be temporal. Those who refuse to bend to their will may not survive on their turf(centralized platforms) in the future.
They should focus more on true decentralization, incentives, peer-to-peer and the masses.
They should focus more on true decentralization, incentives, peer-to-peer and the masses.
The lost of some exchange is the gain of others, for me Privacy coins are one of the few selected coins in the space with real demand for them. The demand for them is huge and as long as the Dark market exit there will continue to be demand, I think they forget to note that the many selling point for BTC was the animosity it offers
If exchange has to confirm across them who sends cryptocurrency to another of what use is the cryptocurrency anonymity logo then? Privacy is the essence of cryptocurrency and once this chain is broken there's no cryptocurrency anymore
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
They create valid reasons to delist these coins that can contribute big volumes in any exchange, I hope this will be the last exchange that will do such a move, now we know that they want centralization and don't like anonymity, in the first place Bitcoin and these Privacy coins is the one that truly represents the true essence of Cryptocurrency.
Thats a big problems for the industry in my opinion.
Crypto should be private and only this projects can help in it
Crypto should be private and only this projects can help in it
That's why we need decentralized exchanges. And I don't mean DEXs like Etherdelta or Binance Dex but exchanges where we can trade all coins. Governments will always find excuses to take actions against privacy focussed coins and with centralized exchanges they have a perfect point of attack.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
Yes, they made the right decision. privacy coins are really one of the very dangerous things for exchanges, because hackers can find out information about these types of transactions.“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
Not long ago, there was an exchange in Japan hacked due to privacy coin transactions.
I fully support the fact that these coins will die in the future, it doesn't really help the crypto market too much. On the contrary, it makes the terrorists even bigger!
Japan laws forbids privacy coins and so is other nations
But Binance support their trading and lending
But Binance support their trading and lending
Korean exchange delisted privacy coin it just goverment issue. The korean goverment wont privacy coins used by peoples to do bad things like drugs , money loundry , and anything about ilegal activity. So Okex is doing what that should they do.
yes the chronology is indeed true, and this is one of the reasons why the government bans privacy coins in their exchanges. but I think this adds to the list of bad news and can affect market conditions again, privacy coins are very worrying as you say related to abuse for illegal businesses.
Any other hidden news?
Are they being cornered by the government to attend to the rules?
Something like anti money laundering act?
Using it for the purpose of taking out this big names such as privacy coins.
They could if they want to. Just scare them with closing down their business and Voila! they will surely comply.
Are they being cornered by the government to attend to the rules?
Something like anti money laundering act?
Using it for the purpose of taking out this big names such as privacy coins.
They could if they want to. Just scare them with closing down their business and Voila! they will surely comply.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
according to current info BEAM is listed on binance. so this is a sign that it is possible to land on big exchanges with privacy projects.
Just to clarify : OKEx and OKEx Korea are two separate exchanges with each their own listings.
OKEx Korea will be removing those 5 coins
OKEx will keep their current listing (which includes Dash with margin trading)
OKEx Korea will be removing those 5 coins
OKEx will keep their current listing (which includes Dash with margin trading)
If the reason for delisting privacy coins is to prevent criminal activities, then it will be good for us,
because i think scammer or hacker using privacy coins to erase their trace.
popular privacy coins have big volume in exchange, it means they will lose some profit if they delist the coins.
I think they will not tell the real reason why they delist the privacy coin from their exchanges, and maybe they are afraid of the government to investigate their report.because i think scammer or hacker using privacy coins to erase their trace.
popular privacy coins have big volume in exchange, it means they will lose some profit if they delist the coins.
But that will make them lose some profit as you say because privacy coins can increase in anytime.
I admitted that privacy coins are used in the dark market, but I don't think that they only used privacy coins because I am sure that they used bitcoin too.
I think that will not be a problem if that exchange wants to delist the privacy coin because we have many other exchanges which still list these coins so we can continue to trade the coin pair bitcoin or usdt.
One thing that they should know that privacy coin will be the next potential coin that will increase.
And if the coin can increase, they will regret it because they delist the coin too earlier.
And Monero up since this was announced.
Gotta love it.
Gotta love it.
If the reason for delisting privacy coins is to prevent criminal activities, then it will be good for us,
because i think scammer or hacker using privacy coins to erase their trace.
popular privacy coins have big volume in exchange, it means they will lose some profit if they delist the coins.
because i think scammer or hacker using privacy coins to erase their trace.
popular privacy coins have big volume in exchange, it means they will lose some profit if they delist the coins.
With travel rule, MLD5, etc., I'm afraid the future of "anonymous" exchange and coins aren't bright. We will see more exchanges implement stricter KYC and pressured to delist privacy coins in the EU and US.
It's interesting to see how the price would react to this battle since this is pretty serious. If you are a privacy coins holder, you should keep an eye on how this progressed.
It's interesting to see how the price would react to this battle since this is pretty serious. If you are a privacy coins holder, you should keep an eye on how this progressed.
The government has started a war against privacy coins on any exchange which is bent to accept regulations from the government. This problem we see is somehow a solution for the acceptance of cryptocurrency on the part of the government. Haven seen this happening, I wonder how soon will they announce and recognize cryptocurrency as a currency. Before this will happen, that is, the acceptance if cryptocurrency many coins or tokens will be delisted from exchanges especially those with anonymous privacy control.
This news looks like it will have a huge effect on privacy coins but I doubt if it will happen, because privacy coins are there to keep users informations on check , thus I don't see much to it other than an exchange trying to obey regulations. There are already other exchanges where these coins are listed and doubt if they will all delist, nevertheless there have to be plan B for these privacy coins and owing to their decentralized nature, I think DEXs will be the best bet.
Privacy coins getting delisted is just a small side-effect of FATF ruling
currently getting implemented by its member countries (all 37 countries).
What is far more important is that this FATF ruling impacts anything and everything
involving "crypto assets" (all cryptocurrencies, all exchanges, all wallet providers).
FATF ruling also includes the so called "travel rule":
Link: https://ciphertrace.com/fatf-crypto-travel-rule/
This travel rule directly impacts the privacy of cryptocurrency users (any cryptocurrency user)
When you look at the privacy-sensitive data that will flow outwards thanks to this travel rule,
there is even a high chance this travel rule will directly violate European Privacy Laws.
(European Privacy Laws prohibit the flow of privacy-sensitive data to go outside the EU).
Since the FATF ruling (including the travel rule) is not mandatory to implement (its a set of recommendations),
i guess its up to countries and exchanges themselfes to decide if they want to follow it or not.
I doubt countries will get so easily financially blacklisted by the FATF for not following these recommendations, when there is
so little actual money laundering and terrorist funding going through these "crypto assets".
currently getting implemented by its member countries (all 37 countries).
What is far more important is that this FATF ruling impacts anything and everything
involving "crypto assets" (all cryptocurrencies, all exchanges, all wallet providers).
FATF ruling also includes the so called "travel rule":
Quote
The travel rule has been a requirement for some time for international banks whenever they transact business
on behalf of the customer. It has however been subject to discussion in the cryptocurrency industry often described
as onerous and infringing on user privacy. The FATF completed recommendations to 37 of its member countries in the
summer. The recommendations included the controversial “virtual asset service providers” that requires crypto exchanges
to share customer information when transferring funds.
The agency gave member nations 12 months to implement the recommendation. Although it is not mandatory, countries
not complying could find themselves on a financial blacklist.
on behalf of the customer. It has however been subject to discussion in the cryptocurrency industry often described
as onerous and infringing on user privacy. The FATF completed recommendations to 37 of its member countries in the
summer. The recommendations included the controversial “virtual asset service providers” that requires crypto exchanges
to share customer information when transferring funds.
The agency gave member nations 12 months to implement the recommendation. Although it is not mandatory, countries
not complying could find themselves on a financial blacklist.
Link: https://ciphertrace.com/fatf-crypto-travel-rule/
This travel rule directly impacts the privacy of cryptocurrency users (any cryptocurrency user)
When you look at the privacy-sensitive data that will flow outwards thanks to this travel rule,
there is even a high chance this travel rule will directly violate European Privacy Laws.
(European Privacy Laws prohibit the flow of privacy-sensitive data to go outside the EU).
Since the FATF ruling (including the travel rule) is not mandatory to implement (its a set of recommendations),
i guess its up to countries and exchanges themselfes to decide if they want to follow it or not.
I doubt countries will get so easily financially blacklisted by the FATF for not following these recommendations, when there is
so little actual money laundering and terrorist funding going through these "crypto assets".
Korean exchange delisted privacy coin it just goverment issue. The korean goverment wont privacy coins used by peoples to do bad things like drugs , money loundry , and anything about ilegal activity. So Okex is doing what that should they do.
even not using privacy coin, another cryptocurrency can do that, because in blockchain can't tracable even we know where the currency are transacted and received, but who know the owner from that unit currency asset, if the reason from goverment just that, okex still can okex can argue and refuse
Very bad news for privacy coins like Dash and monero that I like the most. I think Okex Korea is just obeying some laws in their natin. The price of privacy coins will surely affected with this news. People might think that other exchanges will follow on delisting privacy coins due to law.
Korean exchange delisted privacy coin it just goverment issue. The korean goverment wont privacy coins used by peoples to do bad things like drugs , money loundry , and anything about ilegal activity. So Okex is doing what that should they do.
This is not a good thing to hear for the Privacy Coins investors, what about the price right now?
are they affected with this sudden purge? if not then they need to make up their minds and look for another coin to invest.
because they will not know if the other exchanges will do this move too.
are they affected with this sudden purge? if not then they need to make up their minds and look for another coin to invest.
because they will not know if the other exchanges will do this move too.
Each exchange has its own regulations but it's funny they allowed these coins to get listed when they are starting out, so they increase their volumes, after using these privacy coins to increase their volumes and status they've delisted these top coins in the market.
Why bother to delist privacy coins ? Just make a rule, user must KYC to be able to deposit and withdraw, simple.
They will be able to verify the privacy coins owner from their KYC database.
I think there are another reasons for delisting such coins from the exchange.
They will be able to verify the privacy coins owner from their KYC database.
I think there are another reasons for delisting such coins from the exchange.
This news just sounds like saying, Bitcoin should lose its decentralized nature because a certain few are not okay with it. Like seriously, why listing them in the first place when they know vividly that privacy coins are meant for anonymous transactions. However, in my own opinion, this news holds no ground nor will it have a huge effect on privacy coins let alone making the team to change the nature of their coins.
I believe there are still other exchanges which have no issue with privacy coins, also I think decentralized exchanges should man up and step up their games so as to be the one stop shop for privacy coins.
I believe there are still other exchanges which have no issue with privacy coins, also I think decentralized exchanges should man up and step up their games so as to be the one stop shop for privacy coins.
Might not be a good news for crypto enthusiast specially those who invest on privacy coins. But I'm not surprised by the move though, we all know that governments around the world are clamping crypto specially privacy coins. And we all know that those privacy coins can be a hotbed for criminals that's why governments are putting pressure on exchanges on the last couple of months to remove or de-list privacy coins in their platform. I think LBC already did that move last May removing Monero and Japan's FSB is putting a pressure on Japanese exchanges to drop privacy coins as well. So this will be the trend, sad to say.
I don't like this news. From what I know OKex doesn't handle fiat, so they should not necessarily comply rules.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
I agree. It is strange. Not to mention they talk for a year in Korea about it. Makes very little sense.
Well it's better than giving people false promises regarding their privacy. As soon as your real information is linked with a privacy coin like XMR or ZEC then it loses much of its anonymity.
How can you explain a bit more. You cant unlink your identity from a coin with transparent ledger once you linked your identity to them. Impossible to do it. With Monero is simple. All you need to do is send it to another valet and no one, except you , dont know where those coins come from.
That’s not a good news
But I think decentralized exchanges will be growing stronger with news such as this
Investors need to be quick in their decision making; why regulation against crypto currency should not be rushed
But I think decentralized exchanges will be growing stronger with news such as this
Investors need to be quick in their decision making; why regulation against crypto currency should not be rushed
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
Can't blame Okex exchange for this. They need to bow to the laws of the Korean government which instructed them to do this. Crypto needs to be regulated. I believe in this. Regulation will spur its growth further. Customers who are not happy with this new development can always patronize the services of other exchanges. My fear is that, the future of privacy coins is now in jeopardy
Dash privacy technology that users can optionally use is based on CoinJoin, only more sophisticated and decentralized.
Since CoinJoin also exists for Bitcoin (through several wallets having implemented it for Bitcoin and Bitcoin Cash),
there is effectively no legal difference between Bitcoin and Dash.
Note that Dash is also forked from Bitcoin code-base and has a high level of compatability.
Dash optional privacy is actually not used much on the Dash network (less then 1% of Dash transactions are of private nature).
Since CoinJoin also exists for Bitcoin (through several wallets having implemented it for Bitcoin and Bitcoin Cash),
there is effectively no legal difference between Bitcoin and Dash.
Note that Dash is also forked from Bitcoin code-base and has a high level of compatability.
Dash optional privacy is actually not used much on the Dash network (less then 1% of Dash transactions are of private nature).
Dash’s Privacy Features And Compliance
https://blog.dash.org/dashs-privacy-features-and-compliance-c27d79254ff1
The last news by the Okex branch will be the reason for the decreasing price of the privacy altcoin. There are several causes for this action by the exchanges, the main one is the problems with the terms of regulation. Exchanges want to comply with the rules of the agreement by the official regulators but the untraceable blockchains will be shady for these organizations for tracking the trancationson on the blockchain.
exchanger can't do anything about the goverment regulation, moreover many country banned cryptocurrency, and special for privacy coin they are 100% untracable and make goverment worry about money laundrying, and i think about the price don't give big affect in market 
The last news by the Okex branch will be the reason for the decreasing price of the privacy altcoin. There are several causes for this action by the exchanges, the main one is the problems with the terms of regulation. Exchanges want to comply with the rules of the agreement by the official regulators but the untraceable blockchains will be shady for these organizations for tracking the truncations on the blockchain. I hope the circumspection will not last longer for the privacy-focused coins and the privacy coin banned exchanges will let the crypto traders continue trading. The DEXs are the key point in this situation, it will be near to the impossible limiting the trading of the privacy coins and transfers on the anonymous blockchain.
I don't know what are they thinking. thats the main reason why they created privacy coin. to not have any trace of a transaction
the simple answer of course you can read the mission about the privacy on their official website.and few of them are focused to make community transaction are secret...and protecting their privacy, of course as we know blockchain itself any transaction can't tracable and this is one of blockchain feature
Nothing unexpected here. We can't really blame the exchanges as well. The authorities are cracking down on cryptocurrency exchanges all around the world and the remaining ones are forced to implement stricter KYC requirements. The conversion of privacy coins to BTC/USD (and vice versa) is being actively monitored and some of the exchanges are puling out as it is causing too much trouble for them.
Privacy coins will flourish on decentralized exchanges, which will be a huge competiting market to all the centralied exchanges we've got today.
Most DEX solutions currently available just isn't good enough, or worth peoples times, which makes sense when you think about. All DEX solutions is based on Atomic swaps, or something even worse, which makes trading extremely slow on a peer to peer level.
Do some research on Stakenet (Which will add privacy as well), who's building a Lightning DEX. I personally believe that's one of the greatest ideas in crypto right now for a true working DEX with instant trading, low fees, and 100% privacy, as you don't need to submit KYC, open accounts, or even sync with the network.
Do your own research, but it's definitely one of the most promising projects out there currently in this space.
Most DEX solutions currently available just isn't good enough, or worth peoples times, which makes sense when you think about. All DEX solutions is based on Atomic swaps, or something even worse, which makes trading extremely slow on a peer to peer level.
Do some research on Stakenet (Which will add privacy as well), who's building a Lightning DEX. I personally believe that's one of the greatest ideas in crypto right now for a true working DEX with instant trading, low fees, and 100% privacy, as you don't need to submit KYC, open accounts, or even sync with the network.
Do your own research, but it's definitely one of the most promising projects out there currently in this space.
Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
Same thoughts crossed my mind. Soon there may be little difference between btc, ltc, eth and dash, monero, etc. There are already coin mixing services for btc too.
And I still have no idea why it matters when exchanges require KYC (I assume)? So
First step to sell them is to provide his real name, address, social (or country id) usually with license or passport. So how is this private and anonymous anymore?
Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork
Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.
Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
Quote
Prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) today that offer plans that could prove
foundational to a possible upgrade to the cryptocurrency.
The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.
foundational to a possible upgrade to the cryptocurrency.
The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.
Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork
Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.
Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?
Delisting BTC and ETH would be a more demented news for all.
This could be a message to the developer to postponed the taproot. Still this is bad news for the privacy coins out there. There is no reason for these exchanges anymore to put limit to withdrawals, I hope the DEX these days and because of this news DEX will have the volume to these privacy coins. Hopefully.
What i dont understand about the FATF "Travel rule", is why this is direct cause to delist Dash on OKEX,
when with Dash only 1% or less of its transactions are of a private nature and the other 99% of its transactions
are just as public as Bitcoin and can still be made fully compliable to this new rule from the FATF
Link : https://ciphertrace.com/fatf-crypto-travel-rule/
The FATF by introding a new rule that exchanges can not easily integrate (its a ridiculous rule to begin with)
are directly and unfairly infringing on crypto usage and crypto development.
There are exchanges that simply dont follow this rule for now (exchanges like Binance and Coinbase and a lot
more exchanges i suspect). Lets see if this rule survives or not (i think it will be dropped at some point).
when with Dash only 1% or less of its transactions are of a private nature and the other 99% of its transactions
are just as public as Bitcoin and can still be made fully compliable to this new rule from the FATF
Link : https://ciphertrace.com/fatf-crypto-travel-rule/
The FATF by introding a new rule that exchanges can not easily integrate (its a ridiculous rule to begin with)
are directly and unfairly infringing on crypto usage and crypto development.
There are exchanges that simply dont follow this rule for now (exchanges like Binance and Coinbase and a lot
more exchanges i suspect). Lets see if this rule survives or not (i think it will be dropped at some point).
I believe they are trying to comply with the regulating frame work of the government, they don't want the wrath of the government. This news is not a very good one for the community, exchange will comply with any policy that will make them stay in the market, so am not going to criticize them for their action.,
Yes, this is a consequence of the pressure of laws and regulations. And it will increase in the future. But at the same time, the value of anonymous coins will not decrease. Those who need real anonymity will use these coins more often than BTC.These delistings are nothing more than a game by different rules that will not change anything.
Whats the point of delisting certain altcoins with privacy enhancements, when even Bitcoin itself is introducing privacy-enhancements to its
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork
Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.
Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?
code base through future upgrades? Two of such BIP's (Bitcoin Improvements Protocol) have already been introduced to the Bitcoin community :
Quote
Prolific bitcoin developer Pieter Wuille unveiled two Bitcoin Improvement Proposals (BIP) today that offer plans that could prove
foundational to a possible upgrade to the cryptocurrency.
The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.
foundational to a possible upgrade to the cryptocurrency.
The two proposals, announced on the bitcoin developer email list, describe Taproot, a code change designed to increase bitcoin’s privacy.
Taproot is expected to be bundled together with an upgrade called Schnorr in a soft fork that developers have been looking into for some time,
paving the way for privacy and scalability improvements to bitcoin.
Link : https://www.coindesk.com/new-bips-hint-at-upcoming-taproot-bitcoin-soft-fork
Even Litecoin and Ethereum are looking for ways to add privacy enhancements to their crypto projects.
Will the exchanges start delisting Bitcoin, Ethereum and Litecoin then as well ? Or is it more likely that crypto with its innovations and investment streams will
simply flow to those countries (including their exchanges) that have a far more pragmatic and reasonable crypto stance ?
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
The reason is that regulators such as the SEC a little pinch exchanges and require them to provide information about users of exchanges and transactions in order to gather information on the movement of capital. That's why so many people every day cease to trust the exchanges.
Its privacy coin which meant its only for them. Those people who hold these coins though possibly are not interested to coinbase. They'd just do whatever they are doing still, its just a "catch me if you can" situation.
I know. I didn't say otherwise.
But the attention from all those exchanges and casinos etc, make the coin keep going, price-wise. Maybe you are not interested in the price action, then there is nothing to worry about it. (even though that price action brings more adoption)
And that is why they put a limit into every centralized exchange. Example is Binance which have 2 BTC limit, that is to avoid this criminal transaction or money laundering acts.
Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.
Why delist it if they cannot even do anything to get in and out.
Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.
Why delist it if they cannot even do anything to get in and out.
The only place you could sell was localbitcoins and they already KYC'ed them. It doesn't look good indeed.
And that is why they put a limit into every centralized exchange. Example is Binance which have 2 BTC limit, that is to avoid this criminal transaction or money laundering acts.
Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.
Why delist it if they cannot even do anything to get in and out.
Even if you do it with decentralized exchange you cannot sell them all for there is not much volume there.
Why delist it if they cannot even do anything to get in and out.
I think that these private currencies cannot continue to exist because governments will tighten controls of such currencies and the people who use them and i think that this is correct
Thats not good. Not good for those who hold such coins, I do have some but were not listed to Okex. Now is the time to stick on DEX. Do you think other exchanges will follow what Okex Korea is doing?
These coins are the real threat to the world governments. Not bitcoin.
Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.
Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.
Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.
Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.
Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.
Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.
Its privacy coin which meant its only for them. Those people who hold these coins though possibly are not interested to coinbase. They'd just do whatever they are doing still, its just a "catch me if you can" situation.
These coins are the real threat to the world governments. Not bitcoin.
Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.
Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.
Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.
Depends on where you look from, this might be a good thing. Bitcoin is the middle ground for all. It can be semi-anonymous if you prefer to use it that way.
Coins like XMR, Grin etc will still operate and we still need them but they might lose the support from the big institutions.
Take it Coinbase as an example, these guys constantly monitor your in&outgoing activities just like a bank. Do you think they'll let you play with XMR which they can't track? Of course no.
The government just seek the bad side on the something that they aren't really knows. Whilst, the using of their money fiat is something that more dangerous rather than cryptocurrency. Because they can be able to know what has done by their citizen such as through KYC, they can make a provision to all exchanges who run on the country and every user must pass the KYC before they make a transaction.
This is not a bad news in my point of view, but it is just a knowledge side. If you wonder to active on this forum then this case will be taken as an ordinary thing. And I just thinking if there is a bad news who come from the government then I won't take it seriously because it's just a satire. But when I found a good news such as they will accept cryptocurrency or they will make a start-up based on blockchain technology I'll take it seriously.
This is not a bad news in my point of view, but it is just a knowledge side. If you wonder to active on this forum then this case will be taken as an ordinary thing. And I just thinking if there is a bad news who come from the government then I won't take it seriously because it's just a satire. But when I found a good news such as they will accept cryptocurrency or they will make a start-up based on blockchain technology I'll take it seriously.
This is just a start, Other exchanges probably will do the same(But I hope they don't). I guess Decentralized exchanges or AtomicDEX will benefit from this largely, The sooner we get used to them the better.
I believe they are trying to comply with the regulating frame work of the government, they don't want the wrath of the government. This news is not a very good one for the community, exchange will comply with any policy that will make them stay in the market, so am not going to criticize them for their action.,
This is really bad news, but I don’t think this news came as a surprise to owners of confidential coins, because the war on privacy has been going on for a long time and government officials have been talking about the deanonymization of cryptocurrency owners for a long time. It was clear that crypto exchanges would look for ways to deal with anonymous cryptocurrencies. But do not forget that no one can forbid us to use anonymous cryptocurrencies, we can still exchange them for OTC or make purchases on the Internet.
I think they will have to regret delisting the privacy coins from their website someday. They don't have to do that because the privacy coins are included inside the cryptocurrency and if they are afraid because of the potentially criminal pattern, they should not have the other cryptocurrency too because all of the cryptocurrency is anonymous and people can do anything with the cryptocurrency for making the transaction.
We still have another exchange that still lists the privacy coins, and we can use it to make a profit. I think that will not affect the other exchanges as they are running in a different country. Maybe that exchange is afraid because of the regulation in their country, so they decide to delist the privacy coin from their site.
I am sure the privacy coin can survive if they are delisted from those exchanges because they can exist in the other exchanges without a problem.
We still have another exchange that still lists the privacy coins, and we can use it to make a profit. I think that will not affect the other exchanges as they are running in a different country. Maybe that exchange is afraid because of the regulation in their country, so they decide to delist the privacy coin from their site.
I am sure the privacy coin can survive if they are delisted from those exchanges because they can exist in the other exchanges without a problem.
This is not surprising, because as we are moving towards the mass adoption, there is only one way to find a common road with government and this is ban of all privacy coins. No government will legalise crypto currencies with such coins as Monero.
I've been concerned for a while about the impact on privacy coins as we move further along the road to mainstream adoption of crypto. A consequence of travel on that road is that there is increased government scrutiny, and increasing attempts to regulate and control. Privacy coins represent the worst fears of governments and regulatory bodies, so it does seem logical that these are the coins that are hit hardest.
If in my opinion it was done because of avoiding criminal transactions so it is only natural for them to delete the privacy coins and maybe they want to eliminate traces of unknown transactions so that they plan to delete the privacy coins, in this case I only came to a positive conclusion because they wanted to avoid these things that are not wanted.
Many countries have banned the use of privacy coins to avoid abuse. In my opinion, now it does not matter whether the coin is privacy or not, the most important thing is speed in transactions and safe because regulations are not likely to be issued if the coins can be used for criminal acts
Dash got listed on Coinbase Pro and will start trading there today. I think its just a select few exchanges, that decided to delist
certain cryptocurrencies to stay on the safe side with regards to regulation and compliance.
Countries that seems to have taken a more hostile stance towards those cryptocurrencies that have the ability to provide
private transactions to its users (and therefore making it harder to regulate and comply with) : Japan - UK - South Korea
For Dash it helps that its privacy technology that users can optionally use is based on CoinJoin, only more sophisticated and
decentralized. Since CoinJoin also exists for Bitcoin (through several wallets having implemented it for Bitcoin and Bitcoin Cash),
there is effectively no legal difference between Bitcoin and Dash. Note that Dash is also forked from Bitcoin code-base and has a high
level of compatability. Dash optional privacy is actually not used much on the Dash network (less then 1% of Dash transactions are of
private nature).
certain cryptocurrencies to stay on the safe side with regards to regulation and compliance.
Countries that seems to have taken a more hostile stance towards those cryptocurrencies that have the ability to provide
private transactions to its users (and therefore making it harder to regulate and comply with) : Japan - UK - South Korea
For Dash it helps that its privacy technology that users can optionally use is based on CoinJoin, only more sophisticated and
decentralized. Since CoinJoin also exists for Bitcoin (through several wallets having implemented it for Bitcoin and Bitcoin Cash),
there is effectively no legal difference between Bitcoin and Dash. Note that Dash is also forked from Bitcoin code-base and has a high
level of compatability. Dash optional privacy is actually not used much on the Dash network (less then 1% of Dash transactions are of
private nature).
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
This is happening because of to many hacking, and hackers are using Privacycoins to escape their activity but these coins have a goal to become a decentralization and anonymous, hackers just exploited this feature, but there is a fix to this, not delisting this coins.
It's expected step from country with high level of regulation. I think that such moves can be reason of privacy coin dump and for Bitcoin and Ethereum growing.
I don't know what are they thinking. thats the main reason why they created privacy coin. to not have any trace of a transaction
Hello privacy coin, is a true decentralized approach if you will think about it. Why do you think Okex planning to remove it due to non following of travel rule of FATF? Isnt bit suspicious that they dont want to acknowledge funds or transaction from an unknown source? So reality check, cryptocurrency moving forward through being centralized, even monero a great blockchain will be dragged down for this.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
A huge number of exchangers support these coins, even if they are banned on all top exchanges, they will be sold on unknowns.
There is always a way out, but users will lose confidence in the exchange.
I don't know what are they thinking. thats the main reason why they created privacy coin. to not have any trace of a transaction
Question I have is, with coinmixing available for BTC, and I believe Vitalik mentioned possibly adding some privacy features to ETH in the future, why even bother going after current privacy coins?
And I assume OKex requires KYC, so it's not like any trades are necessarily private.
I don't hold any privacy coins myself, so it doesn't really matter to me either way, just seems odd to delist privacy coins when folks can't cash them out and remain secret to begin with.
And I assume OKex requires KYC, so it's not like any trades are necessarily private.
I don't hold any privacy coins myself, so it doesn't really matter to me either way, just seems odd to delist privacy coins when folks can't cash them out and remain secret to begin with.
I don't like this news. From what I know OKex doesn't handle fiat, so they should not necessarily comply rules.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
I think its a move made to limit hackers. I am yet to get what prompted the action from Okex, a humanitarian act to curb hackers or just under some directives of a government. But then, could we witness this in more top exchanges? Only time will tell but generally, it doesn't look too God for cryptocurrency because we are all obviously heading to centralization
Decentralization keeps ringing but yet with some actions it keeps getting clear that we to an extent we aren't. Privacy coins were created to ensure anonymity and privacy of users thus should they confirm to what Okex want means they will be losing some prominent features. However, it looks they are the only exchange taking such drastic actions while on the other hand, I see it as an opportunity for Decentralized Exchanges to spring up and start doing better so as to take up vital positions within this space; with Decentralized Exchanges, privacy coins will live up to their mission.
It looks like it's a regulator's order to delist all of the privacy coins which can't be traced by the government. As far as i know, south korea is a country which has been putting a very strict regulation to prevent money laundering and crime but it looks like the worst decision i have ever seen to delist a lot of the privacy coins at the same time.
binance was taking a better option by creating another fully regulated exchange site called jex.
privacy coin needs dex.
binance was taking a better option by creating another fully regulated exchange site called jex.
privacy coin needs dex.
Prior to this OKEX delisting news, there has been concerns about privacy coins recently. The authorities are highly against privacy coins because transactions can't be traced. I'm not really a big fan of privacy coins since I'm not holding any for long term, I did hold monero but sold off my bags when these concerns became serious. OKEX delisting privacy coins this way will definitely not tell good on their prices, but let's see how it goes anyway.
I was astonished when I saw the news about mass delisting of privacy coins by OKEX. Being a top notch exchange, I think this will have a negative effect on privacy coins' market generally. Holding privacy coins for long term now will be questionable. I'm a fan of privacy coins but probably their reasons for delisting are understandable.
There's still a ton of alternative exchanges where you can trade coins geared mainly towards privacy like Binance (which I also use), sucks that OKEx is delisting them but that's just one exchange whereas many other larger exchanges still have pairs for these coins. This does likely mean decentralized exchanges will get more attention, though most of them at this time many of these DEXes just don't have great liquidity and some of their interfaces are clunky, though that should be fixed with time.
Bad news for me too.
Seeing one of my favorite privacy coin getting listed on an exchange saddens me. I'm sure that I'm not the only person that believes on monero and many are but if okex has to do that with their reasoning, well it's their option.
There's still a lot exchanges out there that puts their trust on monero.
Seeing one of my favorite privacy coin getting listed on an exchange saddens me. I'm sure that I'm not the only person that believes on monero and many are but if okex has to do that with their reasoning, well it's their option.
There's still a lot exchanges out there that puts their trust on monero.
This could be also a strategy to hide some of malicious transaction done by exchange in which cannot be escape from privacy coins.
I've never thought of this. 
The fact is that any significant damage to anonymous coins in this way will not work.They will be bought and sold using other methods.I am sure that soon many exchanges will do the same.
This could be also a strategy to hide some of malicious transaction done by exchange in which cannot be escape from privacy coins. Transparency and anonymity is the objective of these privacy coins which I think support some if the huge investors so wouldnt be trace, of course thinking of safety precaution isnt really a negative feedback but just a precaution.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
For these reasons it is unreasonable to delist the privacy-oriented coins. The features of these coins were privacy-oriented from the very beginning. Why now?
They have a change of rules, and this is surprising, they should have started without these privacy coins from the start, it's their lost anyway because there are a lot of supporters of these Privacy coins, they will also lose volumes, hope we will not hear any exchange that will follow their bad action.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
For these reasons it is unreasonable to delist the privacy-oriented coins. The features of these coins were privacy-oriented from the very beginning. Why now?
I don't like this news. From what I know OKex doesn't handle fiat, so they should not necessarily comply rules.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
I don't like it either, they are really on war and the casualties are holders and supporters of these Privacy coins, I hope they are the only exchange that will do that, there are a lot of supporters of Privacy coins.
They have a point because they want transparency and you are right hackers can exploit it.
We all thought we are decentralized but these actions make us confirm we are not.
if I read the news above, of course some exchange are open their service in country must comply with existing regulation.
that's why this is one problem can solve from CEX and people make solution by creating DEX for fix this problem.
exchange can't do anything with goverment regulation or they must stop the services
that's why this is one problem can solve from CEX and people make solution by creating DEX for fix this problem.
exchange can't do anything with goverment regulation or they must stop the services
-----
Well it's better than giving people false promises regarding their privacy. As soon as your real information is linked with a privacy coin like XMR or ZEC then it loses much of its anonymity.
I think other platforms will soon be cracking down on privacy coins, though these will just make the decentralized exchanges stronger.
that's why they ask for delisting coin privacy, but the actual even exchanger deslit the coin people still can make transaction from own personal wallet.
but if goverment don't ask for delisting the coin they can partnership with exchanger to prevent AML than delisting the coin
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
Well it's better than giving people false promises regarding their privacy. As soon as your real information is linked with a privacy coin like XMR or ZEC then it loses much of its anonymity.
I think other platforms will soon be cracking down on privacy coins, though these will just make the decentralized exchanges stronger.
if I read the news above, of course some exchange are open their service in country must comply with existing regulation.
that's why this is one problem can solve from CEX and people make solution by creating DEX for fix this problem.
exchange can't do anything with goverment regulation or they must stop the services
that's why this is one problem can solve from CEX and people make solution by creating DEX for fix this problem.
exchange can't do anything with goverment regulation or they must stop the services
this is bad news for privacy coins, and maybe will affected the price of privacy coins, but for sure only for a while,
because all people need privacy, and privacy coins is the answer for that
because all people need privacy, and privacy coins is the answer for that
I don't like this news. From what I know OKex doesn't handle fiat, so they should not necessarily comply rules.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
On the other hand, it can be a method to avoid hacks/hackers get use of stolen coins, if the other exchanges also comply.
Okex korea on war with privacy coins, they have decided to delist privacy coins like zcash, Dash, monero, horizen and SBTC, Why? well the reason is..
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
“For one, transactions themselves need to be routinely monitored, ostensibly to detect unusual and potentially criminal patterns.
Secondly, a new ‘travel rule’ necessitates that exchanges and money transmitters share customer info with each other, so that one exchange can confirm, for example, that a customer on another platform it’s sending 10 bitcoins to has a verified identity.”
Click on the link below to read the full news
https://www.coinspeaker.com/monero-dash-privacy-coins-delisted-okex-korea/
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