ShapeShift quietly delists Monero and Dash

The cryptocurrency platform ShapeShift quietly delisted the privacy-focused coins Monero and Dash, according to Decrypt.

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ShapeShift gained popularity for enabling cryptocurrency swaps without registration and even the minimal data required.

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The publication noted that, due to regulators’ data requirements, the platform ceased providing services to residents of New York in 2015, and later to Washington state.

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However, in 2018 the platform launched a membership program that involves collecting user data, which drew criticism from the cryptocurrency community.

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Founder and CEO Eric Voorhees stated that introducing an identity-verification procedure allowed the platform to pre-empt legal risks.

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Privacy-focused coins such as Monero and Dash attract heightened regulatory scrutiny. For this reason, many centralized exchanges delisted them from the listing.

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Meanwhile, former Monero lead developer Riccardo Spagni, in an interview with ForkLog noted that the privacy attributed to the cryptocurrency is a misconception.

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The Dash team also stated that their coin should not be considered anonymous.

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Earlier, analytics firm CipherTrace, commissioned by the U.S. Department of Homeland Security, developed a tool for tracing Monero transactions.

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For tax authorities, such a solution will create Chainalysis, which also tracks transactions in Dash.

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