Bitcoin

The exchange will not add Monero due to a problem with the U.S. regulators.

Brian Armstrong indicates that Coinbase does not contain privacy coins like Monero (XMR) because they have not yet been approved by the U.S. regulators.

In an interview on July 24th with Peter McCormack in your podcast “What Bitcoin Did”Armstrong said that wanted to take a more conservative approach with Coinbase so that the exchange could stand the test of time. One of these aspects was avoiding direct confrontation over privacy coins, including Monero.

Armstrong said McCormack, who described Monero as “the most reliable data protection currency” With the increasing acceptance of privacy coins, the Coinbase team would consider adding them to its list::

“I think people will feel comfortable with enough time and education. I hope privacy coins will become more popular over time, and maybe more privacy solutions in Bitcoin.”

Association with ransomware attacks

The exchange will not add Monero due to a problem with the U.S. regulators.
The exchange will not add Monero due to a problem with the U.S. regulators.

Although Bitcoin (BTC) is still the preferred choice by some Darknet users and scammers – such as massive hacking of verified Twitter accounts and constant use of fake cryptocurrency gifts on YouTube – Many criminals left instructions for their victims to use XMR to pay for them.

Cointelegraph reported on July 20 that Hackers who were responsible for a ransomware attack on Argentina’s leading telecommunications company claimed XMR of $ 7.5 million or 100,000 tokens.

Coinbase is not the only option

Monero is available for trading on other major crypto exchanges, including octopusfor more than three years and Binance since September 2019. However, the South Korean exchange Bithumb and the Singapore Stock Exchange, Huobi, They announced earlier this year that they would remove XMR from their lists because the token was charged with criminal activity.

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