Coinbase Won’t Be Listing Monero : Regulatory Issues.

Coinbase Won’t Be Listing Monero : Regulatory Issues.

2020-07-27 | Robin Williams

Coinbase Won’t Be Listing Monero : Regulatory Issues.

Coinbase Won’t Be Listing Monero : Regulatory Issues.

July 27, 2020 | Robin Williams


Coinbase won’t be listing renowned privacy coins like Monero [XMR] as they’re still untested grounds for regulators within the U.S.

In line with a recent interview published on 24th July with Peter McCormack on his “What Bitcoin Did” podcast, Brian Armstrong said he wanted to take a more conservative approach with Coinbase so that the exchange would pass the test of time. One among these issues was avoiding direct confrontation about privacy coins along with Monero.

Armstrong told McCormack, who mentioned Monero as “the most credible privacy coin,” that as privacy coins become more accepted, Coinbase’s team would consider listing them:

“I think with enough time and education, people will get comfortable enough with it. Privacy coins will become more mainstream over time I hope, and perhaps more privacy solutions on Bitcoin too.”

Associated With Ransomware Attacks

Although Bitcoin [BTC] still remains the token of choice for a few users of darknet sites & scams – e.g. the massive hack verified Twitter accounts and continued use in illicit cryptocurrency giveaways on YouTube – several criminals have left instructions for their victims to pay them back in XMR instead.

As reported earlier on 20th July, the hackers liable for a Ransomware attack on Argentina’s largest telecommunications company demanded $7.5 Mln in XMR, or 100k tokens.

Trading Monero [XMR]

Monero has been available for trading on other several other leading exchanges including Kraken for over 3 years, and Binance since Sept. last year. However, South Korean crypto exchange Bithumb and Singapore-based exchange Huobi announced earlier this year that they might be removing XMR from their listings as the token faced allegations that it had been used for criminal acts.

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