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Korean Exchange DeLists Privacy Coins - Harbinger?


wry

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Posted

While Bitcoin is pretty anonymous if you always use a new address for every transaction, it is not nearly as anonymous as a lot of people thought and so a large number of privacy coins have been created that are a lot more anonymous.

However, recently regulations called the "travel rule" from the Financial Action Task Force (FATF) require exchanges to report who sent what where from them.  This is almost impossible to do with privacy coins and so there have been fears that support for these coins will be dropped and that is what appears to have happened here.

I fear this is a harbinger of things to come.  As much as I'd like Stake to add a privacy coin, I worry they will now be targeted.  What do you think, privacy coins staying strong or under increasing attack?

Thread on Travel Rule:  

 

Link: https://www.coindesk.com/south-koreas-upbit-becomes-latest-exchange-to-delist-privacy-cryptocurrencies

Posted

I am a big fan of privacy coin but, it seems that regulators are not. This is why individuals like me do not want any regulations in cryptocurrency. This is how they will start controlling this space.

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