Privacy Coins Update — ZEC and XMR After the Listings Crackdown

Privacy coins have spent the last 18 months getting de-listed from major exchanges. The on-chain demand picture, in late April, looks healthier than the headlines.

On exchange access: Monero (XMR) is now de-listed from Binance, Kraken EU, OKX EU and several smaller venues. Zcash (ZEC) has held more listings thanks to its optional-shielding model. Both can still be acquired through DEXs, swap services, and OTC.

On on-chain demand: XMR transaction count is up 40% year-over-year despite the listings crackdown, and shielded ZEC transactions hit a fresh ATH this month. The de-listings have not reduced actual usage; if anything, they have hardened the user base.

For 2026, the regulatory question matters more than the technical one. EU regulation on privacy-enhancing assets is moving toward a “permitted but reportable” framework rather than outright bans. US enforcement has cooled. The next 12 months are pivotal for whether privacy coins re-enter mainstream venues.