Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Privacy Coins Forum => Monero Forum => Topic started by: examplens on February 07, 2024, 02:08:48 PM
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Strangely, no one is writing about this in the Monero subboard, here I will start the topic.
So, Binance has decided to remove privacy coins from its platform. Although it's a bit unclear to me what kind of privacy is being talked about here, if KYC is mandatory on Binance
Based on our most recent reviews, we have decided to delist and cease trading on all trading pairs for the following token(s) at 2024-02-20 03:00 (UTC):
Aragon (ANT)
Multichain (MULTI)
Vai (VAI)
Monero (XMR)
Link (https://www.binance.com/en/support/announcement/binance-will-delist-ant-multi-vai-xmr-on-2024-02-20-f73b083ba6834771b07dbe5319917ae5)
A short explanation also came from the official Monero account on Twitter
The delisting is happening because Binance is now requiring that deposits come from a publicly transparent address. Monero has used stealth addresses for ALL addresses since it’s launch in April 2014
Monero allows selective disclosure with view keys but not a transparent address
https://twitter.com/monero/status/1754879394261147663
For me, this opens up possibilities for restrictions on various other services, wallets...
However, some don't think so, or maybe they just see their chance :D
https://x.com/krakenfx/status/1754891973062697235?s=20
(https://talkimg.com/images/2024/02/07/vEl6I.png)
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I also think Privacy is not a crime - true.
#Binance is delisting Monero ($XMR) The price dropped 40%. You have a human right to privacy. Privacy is normal. Privacy is enshrined in numerous laws. There are evil people that hate your human rights and your right to privacy. They want privacy for themselves but not you. Privacy is your right. Privacy is normal. Fight for your rights! en.wikipedia.org/wiki/Right_to_…
Some people have been donating here. Consider it. wewantjusticedao.org
Shame on those who would swear to protect your rights and then violate them, and you.
Source tweet
https://twitter.com/RichardHeartWin/status/1755058718100672793?t=Y75QQkMuVYt0oSdN9G-PHA&s=19
ZKZX has never been sanctioned by any government authority. We have re-deployed all the smart contracts with new addresses therefore not subject to OFAC sanctions. All RPC's work accordingly.
https://zkzx.cash/
Real defi
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Strangely, no one is writing about this in the Monero subboard, here I will start the topic.
So, Binance has decided to remove privacy coins from its platform. Although it's a bit unclear to me what kind of privacy is being talked about here, if KYC is mandatory on Binance
As I know, KYC is required on Binance if users want to trade and use other services.
XMR is a privacy coin, it will be delisted on most CEXs because they do not want to get into trouble with money laundering accusations. This has been announced for a long time and privacy coin should find its own way to survive, major CEXs no longer want to serve privacy coin users.
Some small CEXs will continue to list privacy coins, including XMR, but I think users will have liquidity problems.
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XMR is a privacy coin, it will be delisted on most CEXs because they do not want to get into trouble with money laundering accusations. This has been announced for a long time and privacy coin should find its own way to survive, major CEXs no longer want to serve privacy coin users.
Especially when Binance recently fined due to money laundering and CZ got arrested.
Some small CEXs will continue to list privacy coins, including XMR, but I think users will have liquidity problems.
Looking at CoinGecko data, it seems current XMR volume on KuCoin rivals volume on Binance. I don't think XMR users will face liquidity problem for now.
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Strangely, no one is writing about this in the Monero subboard, here I will start the topic.
So, Binance has decided to remove privacy coins from its platform. Although it's a bit unclear to me what kind of privacy is being talked about here, if KYC is mandatory on Binance
Binance are on frying pan ever since CZ got pinned on US and not allowed to travel to any other countries. They are cleaning whatever evidence that will lead them to another problem and since US has been against Privacy coins in general, it will only do them good if they delisted it immediately to free their reputation against future sue and unnecessary court orders that will make them pay money to US government, who knows if they haven't been lowkey fine with monero.
On January, OKX made announcements to delist XMR out of know where and the market didn't shake Monero but I think because Binance is one the biggest exchange with liquidity, it was more ease with hope. However, why don't we have more of XMR decentralized exchanges so we don't focus on this exchange that keep dragging coins back when they make hard decisions.
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https://x.com/krakenfx/status/1754891973062697235?s=20
(https://talkimg.com/images/2024/02/07/vEl6I.png)
Kraken is one of the last centralized exchanges standing with monero, but at least now we now that nobody cracked and tracked monero transactions ;)
Most members of monero community are happy about delisting monero and they are actually celebrating, believe it or not. ;)
Don't forget that Binance will continue perpetual trading for monero, so they will continue with attacks and manipulation, as long as CZ is locked in US.
As I sign of support for monero I am willing to accept any payments in XMR same as in BTC and L-BTC.
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Kraken is one of the last centralized exchanges standing with monero, but at least now e now that nobody cracked and tracked monero transactions ;)
Most members of monero community are happy about delisting monero and they are actually celebrating, believe it or not. ;)
Don't forget that Binance will continue perpetual trading for monero, so they will continue with attacks and manipulation, as long as CZ is locked in US.
As I sign of support for monero I am willing to accept any payments in XMR same as in BTC and L-BTC.
I myself am very happy that Monero has got rid of the plague that is Binance.
Nobody is going to regret their XMR paper, and the price manipulations (as we are currently seeing).
The less the privacy coins are accepted by these large centralised services cooperating with the various agencies, the more peace we will have as users.
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The fact that Binance decides to delist Monero is a good sign for several things. One of those things is to make it clearer every day that Binance is complying with the regulations of the countries where it works, and even more so taking into account CZ's problems in the United States, which means that Binance is in the eye of the hurricane, that's why now Binance must always answer "yes sir".
Another positive thing is the demonstration of the inability of governments to monitor Monero transactions, the purpose for which it was created. Monero is still accessible in many other ways and still has many pairs on many exchanges, it won't be a problem. Anyway and as I always say, DEXs are the best alternative.