• Coinbase CEO Brian Armstrong said that the exchange will not list Monero (XMR) due to regulatory issues.
  • He said that as privacy coins gain wider acceptance, Coinbase’s team would consider listing them. 
  • Huobi and Bithumb exchanges delisted XRM earlier following negative allegations.
  • XMR/USD goes up by 14.10% over the last five days.

Brian Armstrong, the CEO of Coinbase, has said that the exchange will not be listing Monero (XMR) due to regulatory concerns. In a recent episode of “What Bitcoin Did” with Peter McCormack, Armstrong said that US regulators haven’t wholly accepted privacy coins such as Monero. He told McCormack that as privacy coins gain wider acceptance, 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 maybe more privacy solutions on Bitcoin too.

Monero is increasingly becoming the choice of cryptocurrency for fraudsters and hackers. According to an earlier Cointelegraph report, hackers responsible for a Ransomware attack on Argentina's largest telecommunications firm demanded $7.5 million in XMR (100,000 tokens). Earlier this year, popular exchanges such as Bithumb and Huobi announced that they would be delisting XMR as the token faced allegations that it was used for criminal acts.

XMR/USD daily chart

XMR/USD daily chart

There have been no negative effects on XMR/USD's price action. In fact, the price has managed to do five straight bullish days. During this time period, the price has jumped from $71.75 to $81.87, going up by 14.10%.

Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.

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