Privacy Coin Delisting Wave from Crypto Exchanges: Why It’s Happening and What It Means for Users

21 June 2025 18 Comments Michael Jones

Privacy Coin Regulatory Compliance Checker

Find out which privacy coins are still available on regulated exchanges in your country. Based on global FATF Travel Rule compliance requirements.

Your Country

Since early 2025, a quiet but powerful shift has been reshaping the cryptocurrency landscape: privacy coins are disappearing from major exchanges. Monero, Zcash, Dash, and others that once traded freely on platforms like Binance, Kraken, and Upbit are now gone. This isn’t a random cleanup-it’s a global wave of delistings driven by regulators, not market demand. If you still hold privacy coins or used them for anonymity, you’re feeling the impact. If you’re wondering why this is happening now, you’re not alone.

Why Are Privacy Coins Being Removed?

Privacy coins were built to hide transaction details. Unlike Bitcoin, where every transfer is visible on a public ledger, privacy coins use advanced cryptography to mask sender, receiver, and amount. Monero uses ring signatures to mix transactions. Zcash uses zero-knowledge proofs to prove a transaction is valid without showing any data. These features made them popular among users who valued financial privacy-but also made them a red flag for regulators.

The turning point came with updated guidance from the Financial Action Task Force (FATF) in June 2024. FATF, the global watchdog for financial crime, required exchanges to track and report customer data for transactions over $1,000. This is called the “Travel Rule.” Privacy coins, by design, can’t comply. You can’t report who sent or received money if the system hides that information entirely. Exchanges faced a choice: keep offering privacy coins and risk fines, or remove them and stay compliant.

The result? 73 exchanges worldwide delisted privacy coins in 2025-up from 51 in 2023. Binance pulled Monero, Zcash, and Dash from its US and European platforms. Kraken followed in Canada. Japan’s entire exchange sector stopped supporting them, as they had since 2018. South Korea’s top five exchanges, including Upbit and Bithumb, removed six privacy coins by September 2025. OKEx Korea cut five more in October. The message was clear: no more anonymity on regulated platforms.

Regulatory Pressure Is Global-But Not Uniform

This isn’t just one country’s crackdown. It’s a coordinated global push. The European Union’s MiCA regulation, which took effect in 2024, forced exchanges to increase transparency. Privacy coins saw a 22% drop in listings across EU platforms. By July 2027, the EU plans to fully ban anonymous crypto accounts and privacy coins altogether.

But not everywhere is the same. In Switzerland and Liechtenstein, some exchanges still offer privacy coins under strict KYC and AML rules. Singapore allows them with enhanced monitoring. Dubai banned them in 2023. Australia restricts access but doesn’t outright ban. Japan and South Korea are among the strictest. This patchwork of rules means your access to privacy coins depends on where you live.

In the U.S., the Treasury Department directly pressured exchanges. Poloniex delisted Monero in April 2025 after receiving a warning from federal authorities. The message: comply or lose your license. Exchanges don’t want to risk fines, jail time for executives, or losing banking relationships. So they removed what regulators called “high-risk” assets.

What Happened to the Prices?

You’d think delistings would crash prices. But the opposite happened. In 2025, privacy coins as a group rose 71.6% in value-even as they vanished from major exchanges. Monero and Zcash both hit new highs by November. Why?

One reason: scarcity. With fewer places to buy them, supply on regulated platforms shrank. Demand didn’t disappear-it just moved. People turned to peer-to-peer platforms like LocalMonero, which saw a 19% spike in activity after centralized exchanges pulled support. Decentralized exchanges (DEXs) and atomic swaps became popular alternatives. Institutional investors, noticing the price surge and limited supply, began quietly accumulating privacy coins, betting that regulatory pressure would eventually ease-or that demand would outlast restrictions.

Zcash’s shielded addresses dropped 8% due to KYC requirements, showing that regulation does have a chilling effect. But overall, the market rewarded privacy coins for their resilience. The narrative shifted: they’re not just tools for criminals-they’re tools for people in oppressive regimes, whistleblowers, and businesses protecting trade secrets.

A user trading Monero on a nighttime P2P marketplace with shadowy figures

How Are Users Adapting?

Reddit threads and Twitter debates exploded with frustration. “They’re taking away our right to privacy,” one user wrote. “This is Bitcoin’s original promise,” said another. But not everyone agrees. Many users, especially those working with institutions or using crypto for business, support the delistings. “I don’t want my exchange to be flagged by regulators,” said a crypto accountant in Berlin. “I’d rather trade on a clean platform.”

The result? Two communities are forming. One side uses decentralized tools: DEXs like Uniswap with privacy bridges, P2P marketplaces, and non-custodial wallets. The other side has accepted the new reality: privacy coins are now “dark market” assets, traded outside the mainstream. Some users are switching to semi-private coins like Horizen or secret network tokens that offer partial anonymity and better compliance options.

A growing number are using mixers or tumblers on Bitcoin and Ethereum to simulate privacy. But these aren’t perfect. Mixers can be tracked, and some are now blocked by exchanges themselves. The truth is, true privacy is getting harder to access legally.

The Future: Can Privacy Coins Survive?

The biggest question isn’t whether privacy coins will disappear-it’s whether they can evolve. Developers are working on solutions that balance anonymity with compliance. New zero-knowledge proof systems are being tested to allow regulators to verify a transaction’s legitimacy without seeing the details. Imagine a system where your transaction is hidden-but a government-approved auditor can confirm it’s not linked to a sanctioned entity. That’s the goal.

Some projects are building “selective transparency”-where users can choose to reveal transaction data to trusted parties, like auditors or tax authorities, while keeping it private from everyone else. This hybrid model could be the key to survival. If privacy coins can prove they’re not just tools for crime, but tools for legitimate financial freedom, they might find a way back onto exchanges.

Right now, 74% of privacy coin developers say FATF rules are their biggest challenge. They’re not fighting to hide money-they’re fighting to protect rights. But the clock is ticking. If they can’t deliver a compliant solution by 2027, when the EU’s full ban takes effect, they risk becoming obsolete.

A glowing privacy blockchain tree with hybrid compliance features under development

What Should You Do Now?

If you own privacy coins:

Don’t panic. Prices are high, and demand hasn’t vanished.
Move them to a non-custodial wallet-like Monero’s official GUI wallet or Zcash’s ZecWallet. Don’t leave them on an exchange.
If you need to trade, use peer-to-peer platforms or decentralized exchanges. Be cautious of scams.
Keep records. Even if your transactions are private, tax authorities may still ask for proof of ownership.

If you’re considering buying privacy coins:

Understand you’re entering a gray area. You won’t find them on Coinbase, Binance, or Kraken.
Know the risks: you could be blocked from using traditional banking services if you’re linked to privacy coin activity.
Only invest what you can afford to hold long-term. Regulatory pressure isn’t going away.

Is This the End of Financial Privacy?

No. But it’s the end of privacy coins on mainstream platforms. The battle isn’t over-it’s just moved underground. Privacy isn’t dead. It’s being forced into corners where regulation doesn’t reach. The same way cash survives despite digital payments, privacy coins will survive-but they’ll be harder to use, harder to access, and far more isolated.

The real question isn’t whether privacy coins are dangerous. It’s whether society is willing to sacrifice anonymity for control. And that’s a debate no exchange, regulator, or developer can settle alone.

Why are exchanges delisting privacy coins like Monero and Zcash?

Exchanges are delisting privacy coins because of strict new regulations from the Financial Action Task Force (FATF) and other global bodies. These rules require exchanges to track and report customer data for transactions over $1,000-the so-called “Travel Rule.” Privacy coins like Monero and Zcash use encryption to hide transaction details, making it technically impossible for exchanges to comply. To avoid fines, license revocation, or legal action, exchanges removed these assets.

Can I still buy Monero or Zcash after they’re delisted?

Yes, but not on major exchanges like Binance or Kraken. You can still buy them through peer-to-peer platforms like LocalMonero, decentralized exchanges (DEXs) such as Bisq or Thorchain, or via atomic swaps. These methods don’t require you to go through a regulated exchange, but they come with higher risks-like scams, slower transactions, and no customer support.

Are privacy coins illegal?

Privacy coins themselves are not illegal in most countries. But their use is heavily restricted. Japan and South Korea ban exchanges from offering them. The EU plans a full ban by 2027. In the U.S., you can own them, but exchanges can’t list them without violating AML rules. Owning them isn’t a crime-but using them for illegal activity is, and regulators treat privacy coins as higher risk.

Why did privacy coin prices go up after being delisted?

Delistings reduced the available supply on major platforms, but demand didn’t disappear-it shifted. People who still wanted privacy coins turned to peer-to-peer markets and decentralized exchanges, creating scarcity. Institutional investors also started accumulating them, betting that regulatory pressure would eventually ease or that their privacy features would remain valuable. The result? Prices rose 71.6% in 2025 despite the delistings.

Will privacy coins ever come back to exchanges?

Possibly-if they evolve. Developers are working on new privacy technologies that allow regulators to verify transactions without seeing details. Think of it as “privacy with permission”: you stay anonymous, but an authorized auditor can confirm the transaction is clean. If these hybrid systems work, exchanges may relist privacy coins under strict compliance rules. Until then, they’ll remain off mainstream platforms.