United

Monero

<p>The announcement of Monero’s delisting by Binance on February 20th has exploded like a bombshell. Behind this technical decision lies a relentless power struggle between proponents of anonymous crypto and states wanting to ban them. Monero has become the symbol of this ideological battle with colossal stakes.</p>
<h2 id="h-monero-the-crypto-that-drives-regulators-mad">Monero, the Crypto That Drives Regulators Mad&nbsp;</h2>
<p>With its untraceable transactions, Monero embodies the nightmare of regulators. Its privacy technology prevents the tracking of financial flows, unlike Bitcoin, for example. This makes it easier to launder money and finance illicit activities, according to its detractors.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1">
 </div>
</div>
<p>Some governments, like the United States or the United Kingdom, have therefore decided to crack down by forcing exchanges to delist anonymous cryptos. Binance finally <a href="https://www.cointribune.com/en/monero-xmr-why-does-binance-want-to-get-rid-of-it/" target="_blank" rel="noopener noreferrer nofollow">succumbed to pressure</a> by banning Monero on February 20th.</p>
<p>But aficionados of private currencies are crying foul over censorship and infringement of individual freedoms. The battle is just beginning.</p>
<h2 id="h-towards-outright-prohibition">Towards Outright Prohibition?</h2>
<p>The <a href="https://www.binance.com/en/feed/post/3772794283529" target="_blank" rel="noopener noreferrer nofollow">delisting</a> of Monero by Binance is probably only the first step. Most experts believe that regulators will ultimately ban anonymous cryptos completely, viewing them as a systemic threat.</p>
<p>The question remains as to how they will technically implement this, as these decentralized currencies are inherently beyond any state control.</p>
<p>Some states might sanction the possession of Monero, others might inhibit its use within their territories. Radical measures which would provoke an outcry among crypto enthusiasts, who are already up in arms.</p>
<p>If a total ban is enacted, it could precipitate the creation of an even more untraceable alternative to Monero or favor the emergence of parallel crypto networks out of regulators’ reach. In short, the war is far from over for the states.</p>
<h2 id="h-the-outcome-of-this-war-remains-uncertain">The Outcome of This War Remains Uncertain</h2>
<p>It is difficult to predict the outcome of this relentless tug-of-war between regulators and enthusiasts of anonymous crypto. States have powerful tools to coerce ecosystem players. But history has shown the difficulty of eradicating decentralized technologies.</p>
<p>Whatever the outcome of this battle, it will have had the merit of raising a fundamental debate. Should anonymity be sacrificed on the altar of security and control? Or should it be defended as an essential political right? Beyond Monero, it’s the whole philosophy of cryptocurrencies that is being questioned.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="2">
 </div>
</div>
<p>With its stealthy, undetectable technology, <a href="https://www.cointribune.com/en/delisting-of-cryptocurrencies-on-binance-monero-gives-its-response/" target="_blank" rel="noopener noreferrer nofollow">Monero</a> shakes up regulators who see it as a threat to be eradicated. The delisting by Binance seems to be just the first step towards a strict prohibition of anonymous crypto. But advocates of these rebellious currencies will not surrender without a fight. The war has only just begun.</p>

Monero Delisted from Binance: Cause for Regulatory Concern?

Table of Contents

Cointribune EN

Other articles published on Feb 21, 2024

ZEC Price Prediction: Is ZEC Ready to Retest Demand Zone of $20?

Apecoin price surges to 6-month peak following Arbitrum partnership

Bitcoin Drops Below $52,000, While Ethereum Maintains Strength: What is Holding Back the BTC Pric...

VanEck’s Spot BTC ETF Witnesses a 14x Surge in Trading Volume

India’s AI Market Set to Reach $17 Billion CAGR by 2027

3 Cryptocurrencies With a Potential to Rise 50x

Join our free newsletter for daily crypto updates!