Privacy advocates score a win after Binance buckles on coin listings

Privacy advocates scored a big win in June with Binance’s announcement that it was

As for the future implications of the Binance decision — but also those stemming from the intense regulatory pressure looming over Europe — we could see a potential increase in the demand and, subsequently, the development of the privacy coins sector. Ironically, the precedent set by Binance could very well lead to more widespread acceptance of privacy coins, as it might prompt other exchanges to rethink their stance on privacy coins, potentially leading to wider availability. We shall see.

At the end of the day, this week’s news calls attention to the real power of community sentiment when it comes to shaping crypto policies and regulations. “We have revised how we classify privacy coins,” the official statement released by the cryptocurrency exchange read, “after carefully considering feedback from our community.” Reading between the lines, what’s clear is that the backlash they received in the past month worked.

It’s hard to overstate how necessary privacy in the crypto industry really is, and that’s why we cannot back down when it comes to fighting for it at every chance we get.

At the heart of it, the community’s influence on Binance’s decision demonstrates its power to shape the future of the crypto industry — and we’d do well not to forget that.

The crypto community should come together to continue fighting for privacy. It forms the very foundation of Web3. And, as the Romans used to say, ibi semper est victoria ubi est concordia: There is always victory where there is unity.

This article is for general information purposes and is not intended to be and should not be taken as legal or investment advice. The views, thoughts and opinions expressed here are the author’s alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.