Huobi, once one of the largest Chinese cryptocurrency exchanges, will delist a number of privacy-focused tokens including Zcash and Monero amid rising regulatory concern worldwide.
“Huobi Global strictly complies with the compliance policies of every country and always endeavors to safeguard our users’ assets,” the firm said in a statement dated Sept. 11. The tokens that were delisted on Sept 19 include Zcash, Monero, Dash, Decred, Firo, and Verge.
Unlike Bitcoin or Ether, privacy tokens such as Monero are designed to avoid tracking. Privacy is a key objective of many crypto proponents, however, there have been increased regulatory concerns in the digital-asset privacy sector.
Does this mean that decentralized exchanges will become more popular? Or they can be also forced to delist coins? And what will happen to the privacy coins market and who's next?
Sure, the whole world is moving to total surveillance and blocking of any kind of privacy providing applications. And when the app is decentralized and based on its own blockchain - it's impossible to block.
As surveillance and censorship becomes more prevalent, the utility of Utopia will continue to rise. This No KYC exchange today has become hassle free to use, unlike those who keep asking our personal details.
Yes, the Utopia ecosystem seems to be gaining more new users lately but I think the pair added on the Crypton exchange also triggers it.
To be honest, I'm not surprised at all. After all, this is a Chinese stock exchange, and everyone knows under what strong state control everything that is in China is. It's good that there are other exchanges where you can find privacy coins.