Privacy Coin Regulation Comparison Tool
Australia
Partial BanSince early 2025
Major exchanges have removed privacy coins from listings due to AML/CTF compliance requirements under the Anti-Money Laundering Act. Ownership remains legal but trading on licensed platforms is impossible.
Effective March 31, 2026: AUSTRAC's scope will expand to cover all digital asset service providers including wallet providers and P2P platforms.
Japan
Full BanSince 2018
Privacy coins were outright banned by the Financial Services Agency. Exchanges cannot list or trade Monero, Zcash, or Dash.
Regulators require full transaction transparency for all cryptocurrencies.
European Union
Full BanEffective July 2027
EU's Markets in Crypto-Assets (MiCA) regulation will ban privacy coins from all regulated exchanges.
Requires full transaction traceability for all digital assets under the new regulatory framework.
South Korea
Partial BanEarly 2025
Privacy coins removed from top five exchanges but remain legal for personal ownership.
Exchanges must implement enhanced transaction monitoring and KYC procedures.
Switzerland & Liechtenstein
Permitted with RestrictionsCurrently
Privacy coins allowed but subject to strict regulatory requirements.
Exchanges must implement robust transaction monitoring with government access to transaction data under court order.
Australians can still own privacy coins like Monero, Zcash, and Dash - but they can’t trade them on any licensed exchange. Since early 2025, every major Australian crypto platform has pulled these coins from their listings. It’s not a law banning ownership. It’s a regulatory wall built around exchanges, and it’s changed how people access privacy-focused cryptocurrency in the country.
Why Privacy Coins Got Banned
Privacy coins aren’t illegal in Australia. But they’re technically impossible to comply with under current financial rules. That’s the core problem. Unlike Bitcoin or Ethereum, where every transaction is visible on a public ledger, privacy coins use advanced tech like ring signatures, stealth addresses, and zero-knowledge proofs to hide who sent money, who received it, and how much was transferred. Regulators like AUSTRAC and ASIC don’t have a problem with crypto itself. They have a problem with untraceable transactions. Under the Anti-Money Laundering and Counter-Terrorism Financing Act 2006, exchanges must know who their customers are and track every dollar moving in and out. Privacy coins break that rule. There’s no way to verify a Monero transaction’s origin or destination without breaking its encryption - and no exchange wants to risk a $10 million fine or a revoked license over it. In 2025, 73 global exchanges removed privacy coins. Australia didn’t lead the charge - it followed. Binance pulled them from European and U.S. platforms in February. Kraken did the same in Canada in March. Poloniex delisted Monero globally in April after pressure from the U.S. Treasury. Australia’s move was less dramatic, but just as effective: exchanges quietly stopped offering them, citing compliance.Who’s Enforcing the Ban?
Two agencies are behind the scenes pulling the strings. AUSTRAC handles digital currency exchange providers. ASIC watches over financial products and services. Together, they’ve created a system where exchanges must choose: comply or shut down. AUSTRAC has already cancelled registrations of exchanges that failed to meet AML/CTF standards. In 2022, they issued stop orders against Holon Investments for offering unlicensed crypto funds. In 2024, they went after Qoin and Finder Wallet for operating without proper licensing. The message is clear: if you touch crypto in Australia, you’re under the microscope. The rules are tightening further. Starting March 31, 2026, AUSTRAC’s scope expands to cover all digital asset service providers - including wallet providers and peer-to-peer platforms that facilitate trading. That means even if you try to bypass exchanges, you might still run into regulatory walls.
What Can Australians Still Do?
You can still hold privacy coins if you already own them. You can buy them overseas on unregulated platforms. You can trade them peer-to-peer through sites like LocalMonero. But none of these options are easy or safe. Peer-to-peer trading has grown 19% since the delistings. But it comes with big risks. You’re dealing with strangers. No chargebacks. No buyer protection. No recourse if someone scams you. Prices swing wildly because there’s no liquidity. And if you’re caught facilitating large P2P trades without reporting, you could still face penalties under AUSTRAC’s expanded rules. Some Australians are using offshore exchanges like KuCoin or Bybit. But those platforms don’t offer Australian dollar deposits, don’t comply with local consumer laws, and aren’t protected by Australia’s financial ombudsman. If something goes wrong, you’re on your own.How This Compares Globally
Australia’s approach is middle-of-the-road. Japan banned privacy coins outright in 2018. Dubai did the same. South Korea removed them from all top five exchanges in early 2025. The European Union will ban them completely by July 2027. On the other end, Switzerland and Liechtenstein still allow privacy coins - but only if exchanges implement strict KYC and transaction monitoring. Those countries treat privacy coins like high-risk assets, not banned ones. Australia chose a different path: no formal ban, but no legal way to trade them either. It’s a gray zone. Legally, you’re allowed to own them. Practically, you’re locked out of the mainstream system. That’s why institutional investors support the ban. Banks, hedge funds, and asset managers don’t want to touch assets they can’t audit. Removing privacy coins made crypto look more legitimate to traditional finance.
I'm a blockchain analyst and crypto educator who builds research-backed content for traders and newcomers. I publish deep dives on emerging coins, dissect exchange mechanics, and curate legitimate airdrop opportunities. Previously I led token economics at a fintech startup and now consult for Web3 projects. I turn complex on-chain data into clear, actionable insights.