Binance planning to delist Privacy coins - XMR and more..

[bitterguy28]

So lets just focus on Monero alone.

Monero (XMR) slumped about 30% Tuesday to a 20-month low after crypto exchange Binance said it will stop listing the privacy token as of Feb. 20.
Source: https://www.coindesk.com/markets/2024/02/06/binance-to-delist-monero-privacy-token-xmr-slides/

Im not really that shocked and im already anticipating that one day these platforms would be delisting those privacy coins or something
that couldnt be traced on. Government do hate them so much, so expect it would be having that continous domino effect.

Binance have had already issue from the SEC and they don't want to face more pressure and harassment from the government so they would rather delists coins such no trace or else.
this is smart move from the site because they only mean business and everything that may damage their label in front of government or anything will be given priority .

[paid2]

This is the same as what happened to Beam they delisted this coin because it didn't meet the standard. Well, there's nothing we can do since Binance is already regulated they should follow what the government wants to list.
We don't need to worry since we still have some exchanges that XMR is listed like in Kucoin but the only problem is I think we won't see these coins skyrocket due to this news including other privacy coins because the government is very strict with these coins and I'm sure it will be also delisted on Kucoin since it is also regulated.

Yeah as long as we have P2P offers we don't need or have to care about XMR being listed anywhere. Bisq, Agoradesk, Localmonero, eXch, and many others does propose XMR, we have plenty of choices and I hope it will continue like this !

[BitMaxz]

Yeah as long as we have P2P offers we don't need or have to care about XMR being listed anywhere. Bisq, Agoradesk, Localmonero, eXch, and many others does propose XMR, we have plenty of choices and I hope it will continue like this !

I'm afraid that no exchanges will accept XMR in the future. If this happens how will XMR to FIAT offers will remain on the p2p exchange if all centralized exchanges delisted monero?

For now, there are many centralized exchanges listed monero let's hope that it remains listed on any centralized exchange so that those who sell/buy in P2P will not think that no one will accept this coin in the future once no more exchanges list this coin.
That's the only thing that I am afraid of

[LUCKMCFLY]

The truth for me is that Biance went from being one of the best exchanges in the world to one of the ones that bends the most to governments and banking entities, because they do not have the conviction that it is a service, the fact that they will face problems due to these currencies does not mean To say that things go wrong at the exchange, but it is a shame that they have dispensed with the service of this coin and its benefits, this means that now Monero will gain more strength, it is one of the coins that I see with the greatest probability of surviving In the face of any global crisis, it is a fact that things will be good for a currency that offers privacy and anonymity, in fact for me it is the leading currency and it will be the leading currency to become more anonymous, of course after Bitcoin, many in the future They will use monero to hide, that is a fact.

[TomPluz]

I'm not really that shocked and I'm already anticipating that one day these platforms would be delisting those privacy coins or something that couldn't be traced on. Government do hate them so much, so expect it would be having that continuous domino effect.

Binance and many other crypto exchange platforms are really wary in many ways with privacy coins as they are pressured by governmental powers to not to deal with them. Privacy coins are usually hard to trace and they are really private so transactions and other details are not open to the public viewing, unlike with the usual ones like BTC, ETH and the rest of the gang where transactions can easily be reviewed by anyone who has an internet connection. I am sure the government is very much concerned that privacy coins can be the best option for those who are involved with illicit business to cover up any traceable act. And of course, Binance is trying to work with the government as it has no choice as their business can be affected if they will go against those in position of power.

[erus]

Source: https://www.coindesk.com/markets/2024/02/06/binance-to-delist-monero-privacy-token-xmr-slides/

I think this privacy coin was removed by Binance because it was to protect Binance so that there is no such thing as "exchange money laundering".
If I owned an exchange company that operated in cryptocurrency I would likely also remove the privacy coin if required by law in the country I live in.
But if my country allows privacy coins to circulate and there are no specific laws then I will allow trading of those privacy coins to circulate in my market.