Due to Monero’s anonymity features many exchanges are shying away from the privacy altcoin. The Japanese FSA have even gone as far as to request Japanese exchanges to delist privacy coins like Monero, Dash, and Zcash. Privacy coins usually get a bad reputation as it seems to be the coin of choice for cyber criminals and those seeking truly, untraceable transactions. The exchange Huobi Pro decided to against the nay sayers and add the Monero XMR coin to their platform this week. XMR deposits were enabled on Huobi Pro on June 7th, trading will go live on the 8th, and withdrawals wont be available til the 10th.
Huobi Pro and Monero are hoping that the addition of XMR to another large Asian exchange will help quell some of the negative thoughts about privacy coins and help XMR regain the traction it had before the delistings. Hopefully new Asian exchanges will add Monero, especially ones that are available to customers in the United States. American users are not allowed to use Huobi Pro at the moment as the company is working on ways to comply with existing governmental regulations and policies.
The Monero platform uses cryptography to provide the benefits of obfuscating the process of sending and receiving addresses, as well as transactions, without any mainstream privacy modifications. It allows faster transactions that are confirmed by distributed consensus and are recorded on.