Under pressure from outside forces, two Australian exchanges have begun deleting a number of privacy coins, including Monero (XMR) and Bytecoin (BCN).

On August 24th, Alex Saunders on YouTube tweeted a screenshot of an advertisement from the Australian Currency Exchange. This announcement appears to indicate that several privacy coins will be removed by August 31:

Source: Twitter.

Another Twitter user claimed that CoinSpot wasn’t the only one planning to delete privacy coins, claiming that Swiftx, another Australian exchange, was planning to do the same.

On the same day, Chainalysis announced that it has partnered with CoinSpot and Coinjar to “improve compliance standards.” It appears that none of the exchanges have confirmed the upcoming deletions. Cointelegraph contacted CoinSpot customer support and asked if Monero would be removed from the list. The company’s representative replied, confirming the message, indicating the reason for the decision:

Since we started operating in 2013, we have seen many instances where pressure from outside organizations has attempted to suppress or restrict our business. In each of these cases, we have always worked hard to coordinate the best possible outcome for our members. We do not take these decisions lightly because we believe that cryptocurrency trading services should be as accessible to all Australians as possible.
The representative assured that there would be no forced circulation of assets and that users would still be able to withdraw their coins.

The Komodo KMD was one of the coins originally slated for removal by CoinSpot. However, Komodo was convinced that this was a bug, as KMD’s data protection feature had been disabled long ago, according to Kadan Stadelmann’s CTO of the project:

In Komodo, the data protection function has not been activated for a long time. We have a legal understanding to support this claim. Although the Komodo platform provides data protection technology, the Komodo token (KMD) itself does not provide data protection technology.
Stadelman assured Cointelegraph that the issue is now resolved and KMD will not be removed from CoinSpot. AtomicDEX, a Komodo-based decentralized switch, currently lists Zcash but not Monero.

The large exchanges do not intend to compromise their business in order to make these assets available to users.

Source: CoinTelegraph

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