# Pastebin 8xSfIna8
Concerns about Monero
Monero is the chosen cryptocurrency for HTC to begin this journey towards further decentralizing cryptocurrencies through the proliferation of mobile devices, however, it is a coin that courts quite a bit of controversy. 

Being a privacy-focused coin, it is one that has uses outside the realms of what is legal. The added anonymity on Monero sees the coin rubbing regulators up the wrong way, and has seen businesses react negatively towards it. 

Estonia-based BitBay announced Monday that Monero (XML) will no longer be tradeable in February due to regulatory concerns about its potential uses in money laundering. This followed from OKEx also dropping the coin. Coinbase in the UK has also dropped Zcash, a similarly inclined privacy coin. 

For Chern, the issues with Monero's privacy aspects should not impact its technical ability to be mined as a breakthrough for mobile. 

“Any issues with Monero’s privacy does not impact on its technical ability to be mined in this first important step and breakthrough. 

“The privacy and fungible aspect of Monero is mostly irrelevant to the AML and KYC of banks. In other words, banks can still properly perform AML and KYC with a privacy coin like Monero. Asking the customer, for example, where your Monero came from is an off-chain problem. Further, I’d argue that the fungibility aspect of Monero makes it even more antifragile as a medium of exchange as opposed to a piece of property with clear provenance,” he added.

“Zooming out a bit, this is fundamentally about financial institutions, not just banks. It’s all financial institutions that are required to do AML, KYC, and other regulations.” 

 “The distinction to be made is that we should be regulating people and companies. We should not be fooling ourselves into thinking money should become a titled property. That experiment was already run hundreds of years ago.”