Shortly After Delisting, Dash Pushed Back On Its Privacy Coin Status

Shortly after delisting the coin, Dash pushed back on its privacy coin status, claiming that it is no more private than BTC so let’s read more about it in the latest Dash news.

A recent tweet from the Dash official Twitter account launched an avalanche of criticism that the cryptocurrency which had outlined its privacy features in the past, is diminishing in the face of possible regulatory scrutiny. The US-based exchange Bittrex announced in a tweet that it will be delisting privacy coins such as Zcash, Monero, and Dash as the year started so shortly after delisting announcements were made, Dash commented on its privacy coin status.

#Bittrex Customers:

The $XMR, $ZEC, and $DASH markets will be removed on Friday, January 15th at 23:00 UTC.

Details: https://t.co/8qAdjuwryJ

— Bittrex (@BittrexExchange) January 1, 2021

Bittrex also decided to delist XRP after the lawsuit from the SEC which prompted more speculation that the exchange is preemptively delisting coins because it awaits a wider regulatory crackdown. In response, Dash announced that they “reached out to @BittrexExchange to request a meeting.” In 2017 however, archived screenshots from the Dash Foundation site advertise Dash as the first privacy-centric crypto asset in the world and now they claim that the cryptocurrency is the leading payments cryptocurrency.

In a recent tweet about the delisting, DashPay CEO Ryan Taylor minimized the privacy features of the coin as well. While the tweet prompted an avalanche of criticism on Twitter with proponents noting that Dash released more guidance on the privacy features of the coin back in August. In a blog on the official Dash website, Taylor wrote that the “regulators are concerned that exchanges may be unable to comply with KYC / AML regulations when transacting coins with privacy features,” because the coin was often found on lists of coins that have privacy enhancements.

1/ Thread… Here is my take on the announced delisting of Dash on Bittrex. https://t.co/yV2MG3ssXW

— Ryan Taylor (@RTaylor05) January 2, 2021

However, Taylor wrote that Dash was doing good in convincing exchanges and regulators that Dash is not a privacy coin:

 “Through a process of education, we have been effective in explaining the technology and convincing regulators that accepting Dash poses no incremental risk compared to Bitcoin.”

The clarifications about Dash’s core focus followed an announced Dash upgrade moving to the testnet phase which will include DashPay which is a social crypto payments wallet. The coin is down by 3% on the day to $87.71.