Privacy Coins 101: Anonymity-Enhanced Cryptocurrencies

April 19, 2023

Privacy coins are cryptocurrencies with privacy-enhancing features designed to boost anonymity and reduce traceability. Although privacy coins are more resistant to tracking than other cryptocurrencies, nothing is completely anonymous. Top 15 privacy coins by market capitalizationPrivacy coin use casesThe anonymity of privacy coins has led many to believe they are primarily used for money laundering, hacking, and terrorist financing. Japan banned privacy coins in 2018; South Korea and Australia followed suit, delisting Monero, Dash, Zcash, and other coins from exchanges. Regulators require appropriate levels of legal authority and oversight to reduce malicious activities and protect participants – whether with privacy coins or other cryptocurrencies.