One of the largest crypto exchanges in the world, Bittrex, announced earlier today that it will be delisting some leading privacy tokens such as Monero, Zcash and Dash in two weeks from now. Although Bittrex is yet to officially state any reason for taking this stunning decision, it is widely believed that the US based crypto exchange has taken the decision in compliance with regulatory frameworks that emphasize Know Your Customer (KYC) for cryptocurrency transactions.
Heraldsheets.com
Also, it is believed that Bittrex decision is not unconnected with the impressions of regulators from around the world that privacy tokens do not generally comply with the anti-money laundering provisions, the reason being that they make transactions on the blockchain untraceable.
It is even often said that it is far easier to trace Bitcoin transactions than one can ever get close at trying to trace the transactions of privacy tokens. Given these circumstances, one might not be wrong to assume that Bittrex is delisting these tokens in an attempt to avoid the wrath of regulatory clampdown and lawsuits.
These latest developments might have significant impact on the altcoin market in the coming days, especially if more prominent cryptocurrency exchanges around the world go in the way of Bittrex. With the widespread dust of panic resulting from the Ripple lawsuit yet to settle, we might see massive money flowing out of privacy tokens, and perhaps the altcoin market, in the coming days.
Similarly, investors will have reasons to be more selective when taking decision on what altcoins would make a very good investment. Gone are the days, this writer thinks, when market capitalization played a major role in influencing the choice of good altcoins. In the days ahead, a seasoned and smart investor might have to consider the degree to which a token is decentralized, the technology and roapmap as well as freedom from regulatory clampdown.
Therefore, the forthcoming altseason, if any, will be revolutionary as less known but sound projects will outperform some of the most powerful altcoins in the market today. The sad thing, however, is that nobody knows for sure which altcoins will do the magic.
jesse powell from kraken comments on the delisting
Thanks for sharing this valuable link. I find it quite insightful.
Ryan Taylor / Dash take on the announced delisting of Dash on Bittrex
The privacy coins will have a tough life on the CEXs
I think that you can say that again. People will always find a way to use it on DEXs
It is time to srart Buy more Monero (XMR) 👌👌👌👌👌👌😇😇😇😇😇
Really? Why do you think so. The price has not fallen well enough, in my opinion. If you had said, XRP I would have probably agreed.
What ? :))))
Lol
Hi @gandhibaba
There has long been talk of cryptomoney regulations, but this was recently taken up at the G7's viral meeting.
When I read your publication, I wondered: what is the truth in all this?, or is it just another smoke screen?
Regards.