Privacy coins getting delisted

[joseyphil82]

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/

[NeuroticFish]

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.

[cryptonx]

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

[Inu.Guren]

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

[DarkDays]

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/

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.

[cp_underground]

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

-----

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.

i agree with Inu.Guren, this is not about privacy or what, this is issue from goverment when they are don't want Money launcdry in country.
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

[coin-investor]

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.

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.

[Nadziratel]

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 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?

[aioc]

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 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.

[salty]

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.

[livingfree]

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.

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.

[leowonderful]

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.

[dataispower]

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.

[key4co.in]

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.

[bitkanu]

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.

[Chuky92]

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.

[SolarWindMiningCompany]

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.

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

[poornamelessme]

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.

[jorenpo]

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

[pishite]

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/

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.