Surging Of Privacy Coins Due To Regulation Pressure

Privacy Coins
Privacy Coins

Developers of numerous privacy coins have made up their mind that every necessary mechanism have been taken care of and ACEs can be regulated properly now. The privacy coins prices have gone up suddenly to a massive level and they include namely DASH, ZEC, XHV, and XMR. in the present time, the cryptocurrency industry is facing huge pressure of regulation due to the war between Russia and Ukraine.

A Good Month For Privacy Coins Without Any Compromise

 This hostile political situation resulted in a narrative about the crypto space that assets that are privacy-enhancing have the potential to provide a certain level of anonymity regarding finance to the investors. However, doubt is there whether privacy coins can give BTC what they promised. 

In recent times, the tally of Monero has doubled itself and in spite of some oscillations, the price has increased from $134 on 24th February to $200 on 26th March. On the other hand, ZEC portrayed better data i.e. from $88 to $202 over a span of just one month. DASH is also following the hike which is evident as its tally increased from $83 to $128. Lastly, the biggest winner is XHV whose price tripled itself over time from $1.60 to $4.20. 

There are two main reasons for the increase in the price level of privacy coins. Firstly, the regulatory burden that has been created by the war situation between Russia and Ukraine. This war resulted in a suspicion that the elites of Russia can utilize crypto to avoid the sanctions that have been imposed by other countries. Secondly, the executive order declared by Joe Biden, the President of America results in a clear framework of regulation for all the digital assets in America. 

In the views of Ahawk, protocols regarding privacy must be still in place as it ensures protection to the users and also forces them to follow regulations as per their jurisdiction.

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