Post
Topic
Board Altcoin Discussion
Re: Monero get delisted, again
by
Abiky
on 15/04/2020, 19:50:19 UTC
Monero get delisted once again because of low trading volume and anonymity functions on Houbi Korea exchange, why is this happening? Are people getting tired of privacy coin? Xmr is one of the top coins, what's your take about this?

https://cointelegraph.com/news/huobi-korea-delists-xmr-amid-nth-room-sexual-exploitation-case-rumors/amp

It's expected for Monero to get de-listed from a centralized exchange since it's a privacy coin after all. Most (if not all) of these exchanges require users to comply with KYC/AML laws. This means that ID verification is required to use any of their services. Since Monero is private by default, it's impossible for governments to be able to track & trace each person's transactions performed on-chain. Tax compliance, among others things will be hard to enforce in a chain that's private by default. I think that Huobi took the decision of de-listing Monero in order to avoid a crackdown from the Korean government. After all, they'd want to keep their business. While the above news are just rumor (sexual exploitation), anything that negatively involves crypto or Blockchain tech, are taken seriously by centralized entities. Any cryptocurrency serves as a double-edged sword which can be used for both good and bad things. The same happens with Fiat today.

At least, it's still possible to trade XMR on other centralized exchanges, and better yet, decentralized ones. One less exchange doesn't affect XMR price whatsoever. After all, the people are the ones who determine the value of each XMR. As long as there is a market for Monero, there's nothing to worry about. In the worst case scenario, one could simply trade XMR to Fiat or crypto in-person or through a decentralized exchange. Remember, what matters is the tech rather than it's price. Just my thoughts Grin