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Australian exchanges delist privacy coins amid Chainalysis integration

Australian exchanges delist privacy coins amid Chainalysis integration

Pressured by exterior forces, two Australian exchanges have begun to delist a variety of privateness cash together with Monero (XMR) and Bytecoin (BCN).

On August 24, YouTuber Alex Saunders tweeted a screenshot of what seems to be an announcement from the Australian change, Coinspot. This announcement appeared to recommend that a number of privateness cash have been going to be delisted by August 31:

Supply: Twitter.

One other Twitter person alleged that CoinSpot was not the one one planning to delist privateness cash, claiming that Swiftx, one other Australian change, was planning on doing the identical. 

On the identical day, Chainalysis introduced that it was partnering with CoinSpot and Coinjar “to enhance compliance requirements”. It seems that neither change has confirmed the approaching delistings. Cointelegraph contacted CoinSpot’s buyer help asking whether or not Monero was going to be delisted. A consultant from the corporate replied, confirming the information whereas additionally alluding to the explanation behind the choice:

Since we started working in 2013 we have now confronted many situations by which strain from exterior establishments have tried to stifle or prohibit our enterprise. In every of those situations we have now at all times labored exhausting to coordinate the absolute best end result for our members. We don’t take these selections evenly as we do consider that cryptocurrency buying and selling companies must be as accessible as attainable to all Australians.

The consultant assured that there shall be no pressured buying and selling of belongings, and customers will nonetheless be capable to withdraw their cash.

One of many currencies that was initially marked for removing by CoinSpot was Komodo’s KMD. Nonetheless, Komodo was satisfied that this was an error as KMD’s privateness characteristic has been disabled for a very long time in response to the challenge’s CTO Kadan Stadelmann:

Komodo doesn’t have the privateness characteristic enabled for a very long time. We’ve got a authorized opinion backing this declare. So though the Komodo Platform does supply privateness tech, the Komodo Token (KMD) itself doesn’t supply privateness expertise.

Stadelman confirmed to Cointelegraph that the problem has since been resolved and KMD is not going to be delisted from CoinSpot. AtomicDEX, a decentralized change that’s constructed on Komodo’s expertise, at the moment lists Zcash, however not Monero.

Main exchanges don’t have any intention of jeopardizing their companies with a purpose to make these belongings obtainable to the customers.


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