after criminals, the world would be a better place.
Today, I have some bad news to share. On June 26th, Binance announced that it will be disabling the trading of certain privacy coins on its platform in France. This is a measure taken by the company to comply with local regulatory requirements. The privacy coins that will no longer be available for trading on Binance in France are DCR, DASH, ZEC, ZEN, PIVX, NAV, SCRT, XVG, FIRO, BEAM, XMR, and MOB.
This announcement has caused a stir among crypto enthusiasts, as it appears to be a step backwards in terms of the regulation of privacy coins. It is believed that the local governments are taking this measure in response to the actions of bad actors, though it is worth noting that the use of cash FIAT is still more prevalent than the use of privacy cryptocurrencies.
The question now is whether this move by Binance will be limited to France, or whether other countries will adopt a similar stance. Unfortunately, it appears that this ban may soon be extended to other European countries, such as Italy, Poland and Spain.
In the face of this news, users have been advised to stock up on XMR before the ban takes effect. Additionally, it has been suggested that users should also turn on their CPU miners to ensure that XMR can still be mined. This demonstrates that despite the ban, XMR can still be used for its intended purpose – providing privacy for users.
Furthermore, it is important to remember that P2P and Defi will always exist. This means that even if trading on Binance is disabled, users should still be able to find other exchanges to trade with.
At the end of the day, privacy is a human right and it is unfortunate that governments are not respectful of this right. While it is understandable that governments want to take measures to prevent bad actors from using cryptocurrencies, it is important to remember that banning privacy coins is not the way to go. If governments truly wanted to create a better world, they would focus on only going after criminals rather than banning privacy coins.