Brian Armstrong says Coinbase won’t be listing privacy coins like Monero (XMR) as they’re still untested grounds for regulators in the United States.
In a July 24 interview with Peter McCormack on his “What Bitcoin Did” podcast, Armstrong said he wanted to have a more conservative approach with Coinbase and so the exchange would pass the test of time. One of these dilemmas was avoiding direct confrontation about privacy coins including Monero.
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Armstrong told McCormack, who referred to Monero as “the most credible privacy coin,” that as privacy coins are more accepted, 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.”
Associated with ransomware attacks
Though Bitcoin (BTC) is still the token of preference for some users of darknet sites and scams — e.g. the massive hack on verified Twitter accounts and continued used in fake crypto giveaways on YouTube — many criminals have left guidelines for their victims to pay them in XMR alternatively.
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Cointelegraph reported on July 20 that hackers responsible for a Ransomware attack on Argentina’s largest telecommunications company demanded .5 million in XMR, or 100,000 tokens.
Coinbase perhaps not the only option
Monero has been designed for trading on other major exchanges including Kraken for more than 3 years, and Binance since September 2019. However, South Korean cryptocurrency exchange Bithumb and Singapore-based exchange Huobi announced earlier in 2010 that they will be removing XMR from their listings since the token faced allegations that it was employed for criminal acts.