[XMR] Monero - A secure, private, untraceable cryptocurrency

[Globb0]

Are these guys burning coins when they delist? or stealing them?

[BITCOINET.NET]

OKEX Korea Drops 5 Privacy Cryptocurrencies Citing FATF Rules

The South Korean arm of the Malta-based OKEX exchange announced early on Monday that it is to delist five cryptocurrencies that provide extra privacy features for users. From Oct. 10, the exchange will no longer support trading in Monero (XMR), dash, zcash (ZEC), horizen (ZEN) and super bitcoin (SBTC).

https://www.coindesk.com/okex-korea-drops-5-privacy-coins-citing-fatf-rules

Alot of these coins are traded on P2P exchanges too and these decisions are not affected the price of monero.

[hd49728]

Alot of these coins are traded on P2P exchanges too and these decisions are not affected the price of monero.

I don't deny the fact that elisting news on privacy coins seriously affected price of Monero months ago, but the effects has likely stopped, and recent months such news did not force the price of Monero falling down more. I don't think such things will have more serious effects in the long run,  because even bitcoin has hundreds of fraud accusations, and FUDs over years, but it has still been here and even grown steadily and widely over time. I believe that Monero might adapt and grow in the same path of bitcoin.
If there are still good demands on privacy and privacy coins, Monero will still be here because it is a leader of privacy coin ecosystem, so far.

[EastSound]

coinbase UK
https://www.crowdfundinsider.com/2019/08/150490-coinbase-uk-delisting-privacy-coin-zcash/

Its not just S.Korean exchanges probably a plot, since some big companies invested in VC coins are coming to the competition.

[Hueristic]

Upbit delisted Monero(XMR), Dash(DASH), ZCASH(ZEC), Haven(XHV), BitTube(TUBE), PIVX(PIVX) as well end of september which means companies and institution under regulation can't service anonymous cryptocurrencies. If the trends will keep then during the next bubble will be hard to increase price significantly. Maybe some institution don't want to have anonymous coins due to lack of control the customers.

Pasting my reddit comment:


The FATF guidance does not even prevent privacy coins from being listed on an exchange, as long as the exchange enforces KYC/AML for the users. I ascribe the recent events to an overzealous and erroneous interpretation of the guidance by the compliance department of the exchange in question. It further should be noted that, for instance, Binance and Kraken still cater to Korean users. Additionally, see a relevant comment of mine below:


My response to the following article: OKEx Korea delisting all privacy coins, including Monero, Zcash and Dash, as these ‘violate’ FATF’s 'travel rule' - The Block

as these ‘violate’ FATF’s 'travel rule'

I don't think this is the case actually. As long as they enforce KYC/AML for each account, they should be able to tie deposits and withdrawals to a certain person. In addition, they can send this information to another service (which is essentially what the travel rule is about) in case a direct withdrawal (i.e. a withdrawal to another service) is made.

People should also bear in mind that FATF merely makes recommendations:

Importantly, FATF doesn't have *any* regulatory authority of its own. FATF makes recommendations, not laws.

Member countries can adopt all, some, or none of FATF's recommendations. There are basically no repercussions for not adopting (or for violating) FATF recommendations.

The U.S. based exchanges will most likely follow FinCEN's guidance

As you might expect, the United States doesn't really like having its regulatory policy dictated to it by other countries.

FinCEN (the US regulator in charge of AML/CFT regulation) certainly does consider FATF's recommendations, but rarely adopts them wholesale.

Which was positive for privacy coins:

People often like to purport that Monero will inevitably get banned. However, the new FinCEN guidance is basically inconsistent with that notion. From the CoinCenter article:

Section 4.5.3 states that exchanges are not per se banned from using privacy-preserving cryptocurrencies but will need to comply with the same BSA regulations they comply with for typical cryptocurrencies. We believe that this is possible. Exchanges need to know their customers but they do not have a black letter law requirement to know the customers of their customers. In other words, a bank needs to know who you are but they are not obligated to know the name and address of people that you pay using cash you withdraw from your account.

https://coincenter.org/entry/fincen-s-new-cryptocurrency-guidance-matches-coin-center-recommendations

The full twitter thread on FATF's guidance can be read here:

https://twitter.com/jchervinsky/status/1142578858589347840

EDIT: To add a few more things:

[1] Monero is private by default and optionally transparent. There are plenty of tools available in Monero that allow one to be compliant with an auditor.

https://monero.stackexchange.com/questions/tagged/auditing

[2] Tari Labs is working on an open source framework for listing Monero.

https://twitter.com/fluffypony/status/1172832896727638017

[3] CoinCenter confirmed in the MoneroKon regulatory panel that almost all exchanges are already mostly compliant with the FATF guidance (because they enforce KYC/AML for each user).

[4] Monero is listed on a lot of U.S. based regulated exchages, services, and OTC desks. I made an overview here:

https://np.reddit.com/r/xmrtrader/comments/c1zkfu/daily_discussion_tuesday_june_18th/ergqhzs/

[5] This only concerns *Korean* users of OKEx.


This subject was also extensively discussed in yesterday's Monero Coffee Chat. I highly recommend watching it:

https://www.youtube.com/watch?v=1y0YeTLbYEc

Thanks for all these links dEBRUYNE.

[Switchain]

Check out this XMR wallet guide https://www.switchain.com/blog/best-monero-wallets-top-8-monero-wallets-2019/

[XxXBigDickXxX]

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!

[jwinterm]

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!

Lol 53 qubit personal computer

[CryptTech]

Why monero together with other anonymous coins try to remove from exchanges?

[Hueristic]

Check out this XMR wallet guide https://www.switchain.com/blog/best-monero-wallets-top-8-monero-wallets-2019/

Why doesn't switchain list Monero?
Other than that nice article.

Hello Guys! I have a question! Do e need affraid of quantum PC? Will we protect our chain? Google did 53 qbit Pc!

What happen, did your other troll account get banned?

/ignored

[dEBRUYNE]

Preliminary information thread regarding the scheduled protocol upgrade of November 30

https://www.reddit.com/r/Monero/comments/d884zt/preliminary_information_thread_regarding_the/

[Zonton]

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

[Fatman3001]

Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

[Fatman3001]

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

It's not too bad compared to other alts, but it does look a bit dead in the water.

[PRESDIR]

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

I used to think like you, even had time to enjoy some monero results in the trading of glorious years
but still hope the events of two years ago can still be repeated.

[dEBRUYNE]

Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

Alive and well I would say. Development of both the code and the ecosystem is progressing strongly. A nice overview can be found here:

https://revuo-monero.com/periodicals/periodical-3-2019.html

The weekly issues can be found on the website too:

https://revuo-monero.com/

[dEBRUYNE]

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

From the top 20, Monero is one of the best performers year to date. That being said, it obviously got affected by the significant decline in the altcoin market.

[Fatman3001]

Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

Alive and well I would say. Development of both the code and the ecosystem is progressing strongly. A nice overview can be found here:

https://revuo-monero.com/periodicals/periodical-3-2019.html

The weekly issues can be found on the website too:

https://revuo-monero.com/

thx, dEBRUYNE

[User44a]

Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

it was a shitcoin    reeeee

Monero is and remained in Top20 for many years, anyone calling alt like this a shitcoin isn't clever at all. So many private coins only dream about getting where Monero is.

I used to think that Monero is a unique cryptocurrency that has great potential and after a stunning pump in 2017, it will always remain popular, but now I began to doubt because the price of this coin has fallen very much along with the market.

I know, the price dropped against BTC a lot, so did the rest of the market. If you're holding XMR just to get rich quick, you simply have to wait a bit longer for the alt season. If you value your privacy, especially for your shopping, Monero is the right coin for you.

[gembitz]

Just dropping by to check on this thing.

Is this coin still alive and well or does it have some terminal problem?

it was a shitcoin    reeeee

Monero is and remained in Top20 for many years, anyone calling alt like this a shitcoin isn't clever at all. So many private coins only dream about getting where Monero is.

it's a CLONE of bytecoin...umm yes it's a living breathing shit-coin pumped by GOLDMAN SACHS bruh.    you new here?