As previously reported on Wallebi, cryptocurrency world is facing with issues related to regulations. In fact, governments and financial institutions have different position against cryptocurrencies. As a result, it became one of the biggest and most important obstacles for crypto world. Regulations are varying from country to country. Some totally banned any activities around cryptocurrencies and some accepted cryptos as kind of security, commodity or even real money. In the latest news, Coinbase exchange won’t list XMR.
Monero (XMR) is one of the popular cryptocurrencies among people, who use it for illegal activities. Consequently, governments and related regulatory authorities are sensitive about it. Recently, the coinbase exchange announced that they will not list XMR due to regulatory problems.
Coinbase exchange won’t list XMR due to regulatory problems
Although cryptocurrency exchanges such as Binance and Kraken support Monero, Coinbase took a different decision about listing XMR.
Brian Armstrong commented that Coinbase won’t be listing Monero (XMR) due to unclear regulations about this crypto in the United States.
In his recent interview with one of cryptocurrency podcasts, Armstrong said that Coinbase exchange do not consider privacy coins including Monero. In fact, the exchange is avoiding any direct confrontation about such those coins and tokens.
The interviewer asked about the future of privacy coins. Armstrong replied that in the future people will become more educated about this subject. As a result, they would be more comfortable with it. He hoped that privacy coins become more mainstream over the time.
Coinbase is not alone
Although Monero has been available on other famous exchanges such as Kraken or Binance for more than three years, recently exchanges such as Bithumb and Huobi announced that they would remove Monero from their platform very soon. In fact, they consider the illegal uses and activities related to Monero. They believe that Monero is using for criminal purposes and their platform may face problems in related to regulations about cryptos.