Bitcoin Forum

Coincheck Confirmed Its Plans to Delist Monero, Augur, Dash, and Zcash

Recently hacked Japanese cryptocurrency exchange Coincheck has officially announced it will remove four major virtual coins from the trading list by June 18. The company needs to meet Japan’s Financial Service Agency (FSA) requirement which bans crypto coins with a high level of anonymity.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/coincheck-delisting-monero-augur-dash-zcash/

https://coinidol.com/upload/resize_cache/iblock/9c1/900_900_1/9c1a25ac972f6042f088d657c3a1327b.jpg

Very bad news. The fact is that these coins are not some unknown tokens, but one of the most promising crypto-currencies. But in the long term, these coins will greatly increase in price because of anonymity.

This is likely to become the norm in the future. Exchanges won't be able to operate without approval and getting rid of coins with baked in privacy is likely to be a requirement. I think the reason it hasn't spread to other countries is that the authrorities haven't bothered to consider their implications yet.

Hopefully decentralised options will get stronger by which point it won't really matter any more.

 altcoin with a high level of anonymity has no future, at least is what I think and this was expected, if governments are fighting against money laundering, they are imposing very tough measures against exchange, then in the future they will begin to attack the creators of the coins with a high level of anonymity, because these currencies offer a great risk to governments and governments will not allow the existence of such coins

Well, the dark market will never end and such coins will remain in the future imo.
This regulation has a good impact on Bitcoin in the future in Japan since it will boost its usage instead of the specified coins (even it isn't that important).

Someone coming from normal banking has absolute privacy to the world beyond. Obviously you don't if the tax man is after you.

If you had to use Bitcoin day in, day out you'd quickly realise that privacy in transactions is a rather necessary thing. I don't see how anything that hopes to be a currency can't not have some form of privacy. Maybe wallets will be clever enough in future.

Most haven't thought through the implications of an open ledger mainly because it's a luxury they're toying with rather than a daily utility for them.

It was to be expected, but it's better like this in the end -- the main utility of these coins doesn't experience any use or purpose when you buy them from an exchange you verified yourself at. Eventually I can definitely see it impact their value, especially when more exchanges follow, but these coins should only be listed on decentralized exchanges serving as temporary in-out points. I however don't know how motivated the developers will be to work on a low value coin project. In the end every developer needs financial incentive to dedicate time to improvements and everything around it. I'm happy that Bitcoin doesn't offer any actual privacy features. :)

Decentralized exchanges will have problems too, it may be relatively easy to setup crypto-to-crypto exchange, or even do some cool stuff like atomic swaps thanks to the programmable nature of cryptocurrencies, but it's not as easy when it comes to fiat-crypto operations, banks will find ways to detect them and report it to authorities or just close accounts. We'll probably have some centralized darknet exchanges that will have all the privacy-oriented coins as well as some popular coins like BTC and LTC.