After the removal of Ripple (XRP) from exchanges as it is considered as "security", other crypto are not doing well in the last few hours: they are 𝓟𝓻𝓲𝓿𝓪𝓬𝔂 𝓒𝓸𝓲𝓷𝓼.
1) Monero (born in 2014)
2) Dash (2014)
3) Zcash (2016)
In a statement, the Bittrex exchange announced that these three coins will be delisted on Friday 15 January at 23:00 UTC: Delisting of XMR, ZEC, DASH
Although Bittrex has not provided any reason for the removals, the reasons certainly relate to the know-your-customer (KYC) and anti-money laundering (AML) regulations that are spreading around the world (Coinbase has requested to update the documents for example ).
US intelligence has urged Congress to limit the use of privacy-focused cryptocurrencies.
Dash replied to the tweet: "From a technical standpoint, Dash's privacy functionality is no greater than that of Bitcoin"
Dash actually features a feature called PrivateSend (CoinJoin), which is a technique for shuffling transactions, making it more difficult for analytics companies to track (not by default, however)
CoinJoin has been used since 2013, with the aim of allowing Bitcoin users to "break up" their transactions and thus make it difficult to track funds. Dash has essentially taken this same approach and made it a more convenient integrated option for its users.
However, the Dash blockchain is public.
We can also do similar speech for Zcash (ZEC) which gives the possibility to carry out normal, partially shielded and fully shielded transactions, so only those who used the full shielded ones would be safe from tracking systems.
Robert Navy (Deputy Director of Secret Services): "Congress for help in preventing cryptocurrencies like Monero and zcash, which provide users with enhanced privacy and anonymity features, from being used for illicit purposes...We should also consider additional legislative or regulatory actions to address potential challenges related to anonymity-enhanced cryptocurrencies, services intended to obscure transactions on blockchains (tumblers or mixers) and cryptocurrency mining pools"
The biggest problems concern Monero as it features all the encrypted blockchain. Thanks to CryptoNote, it is not possible to identify:
On the Deep Web (TOR) Monero (like Bitcoin) has been used for years. Among the largest markets supporting Monero are the defunct Alphabay, Empire, Berlusconi Market, Cryptonia, Nightmare (also Dash e Zcash here) and Oasis Market.
However, some recent markets (White House) have even eliminated Bitcoin as a means of payment, choosing only Monero.
Between 2019 and 2020, Monero became the most used crypto on the Dark Web.
What are other small market capitalization privacy coins? PIVX, Haven, Verge, Particl, Zcoin, Bitcoin Private, DeepOnion, Navcoin.