Brian Armstrong: Coinbase Won’t List Monero (XMR)

Brian Armstrong, CEO of Coinbase, has indicated that Coinbase will not list privacy coins like Monero (XMR) because they have not yet been tested by U.S. regulators.

In an interview, Brian Armstrong said he wanted Coinbase to be more conservative so that the exchange would stand the test of time. One of these problems is avoiding direct exposure to privacy coins, including Monero.

Armstrong referred to Monero as “the most credible coin for privacy.” As privacy coins are becoming more accepted, the Coinbase team will think about listing them in the future.

“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.”

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Related to Ransomware Attacks

Recently Bitcoin (BTC) is still the token of choice for some dark websites and fraud users. This was evident in the recent twitter hack. The hacker asked Twitter users to send in BTC and get double of what was sent. Despite this fact, many criminals have left instructions in which they ask the victim to use XMR to pay for it.

There was a report that the hacker responsible for the ransomware attack on Argentina’s largest telecommunications company had requested $7.5 million or 100,000 tokens from XMR.

Coinbase is Not the Only Option

Since September 2019, Monero has been trading on other major exchanges such as Kraken and Binance for more than three years. However, Korean cryptocurrency, The Bithumb Stock Exchange and the Singapore-based Huobi Stock Exchange announced earlier this year that they would be removed from their shares following the criminal charges of using the token.