|

Coinbase CEO says the exchange won't list Monero due to regulatory concerns

  • 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%.

Author

Rajarshi Mitra

Rajarshi Mitra

Independent Analyst

Rajarshi entered the blockchain space in 2016. He is a blockchain researcher who has worked for Blockgeeks and has done research work for several ICOs. He gets regularly invited to give talks on the blockchain technology and cryptocurrencies.

More from Rajarshi Mitra
Share:

Markets move fast. We move first.

Orange Juice Newsletter brings you expert driven insights - not headlines. Every day on your inbox.

By subscribing you agree to our Terms and conditions.

Editor's Picks

XRP edges lower despite record on-chain activity and steady ETF inflows

Ripple is trading under pressure at the time of writing on Thursday, after bulls failed to break the short-term resistance at $2.22. The reversal may extend toward Monday’s low of $1.98, especially if risk-off sentiment persists in the broader cryptocurrency market.

Aster lags recovery as perpetual DEX releases new roadmap on infrastructure, utility and ecosystem 

Aster is consolidating above $1.05 at the time of writing on Thursday, reflecting lethargic sentiment in the broader cryptocurrency market. The token native to the perpetual Decentralised Exchange had recovered from Monday's low of $0.88 but stalled around $1.08 on Wednesday.

Hyperliquid Price Forecast: Bulls aim breakout as RSI and MACD flash buy signal

Hyperliquid struggles to surface above $35 as a local resistance trendline caps the two-day recovery run. Hyperliquid Strategies Inc. (PURR) transfered 12 million HYPE tokens to Hypercore and staked 425,000 tokens, which reflects confidence. 

Cardano builds recovery momentum as sentiment improves

Cardano is extending its recovery for the second consecutive day, trading at around $0.4400 at the time of writing on Thursday. If this recovery leg from Monday's $0.3707 level steadies in the coming days, Cardano bulls could push toward a bullish December.

Orange Juice Newsletter – Smart insights by real people. Every day.

A free newsletter highlighting key market trends to help traders stay a step ahead. Daily insights on the most relevant trading topics, compiled by our experts in an easy-to-read format so you never miss an important move.

Bitcoin: BTC steadies as data suggests local bottom

Bitcoin (BTC) hovers around $91,000 at the time of writing on Friday, extending its recovery by 5% so far this week. On the institutional front, a modest outflow from US-listed spot Bitcoin Exchange Traded Funds (ETFs) marks a slowdown from previous weeks and signals a reduction in selling pressure, further supporting BTC’s recovery.