Noticing that recent discussions about privacy coins have been increasing, especially the situation with Monero (XMR), which is indeed worth paying attention to. Currently, XMR is priced around $399.84, while ZEC (Zcash) is at about $659.91; both are privacy coins but face growing regulatory pressure.

The main reason for the delisting wave of privacy coins is still the shift in regulatory attitudes. Governments and financial regulators worldwide are increasingly concerned that these coins could be used for money laundering, tax evasion, or other illegal activities. After all, XMR employs advanced encryption technologies like ring signatures and stealth addresses, completely hiding transaction information, making transactions nearly untraceable—this is an advantage for privacy advocates but a nightmare for regulators.

The pressure on exchanges is also very real. They must either strictly enforce KYC and AML requirements (which is nearly impossible with privacy coins) or simply delist them. The legal risks are too high; no platform wants to risk fines or shutdowns just to list a privacy coin. This also explains why more and more large exchanges have chosen to delist privacy coins over the years.

The delisting wave over the past few years has already been quite evident. Some major exchanges started acting as early as 2021, and privacy coins like DASH and ZEC have gone through similar situations. Regulatory authorities in the EU, Japan, South Korea, and other regions have taken particularly tough stances, directly banning or strictly restricting the listing of privacy coins. To continue operating in these regions, exchanges have little choice but to comply.

From the perspective of XMR trading against NZD or other fiat currencies, liquidity is actually shrinking. Fewer platforms support trading XMR, making it harder for users to exchange it for other currencies. This, in turn, further weakens XMR’s position as a trading asset.

This phenomenon actually reflects a fundamental contradiction—the balance between privacy and regulation. For privacy advocates, XMR represents financial freedom and anti-surveillance; but for regulators, it poses a risk to the financial system. As countries tighten their cryptocurrency regulations, this controversy will only intensify. The future of privacy coins on centralized exchanges indeed becomes increasingly uncertain.