“How’s my Monero doin’ today?” I idly wondered, as I checked my portfolio on Exodus, last month. That casual curiosity quickly turned to annoyed bewilderment as I learned that Exodus would be ending their support for that coin later this summer. After quickly transferring my Monero (XMR) out of one self-custody wallet into another (the deliciously-named ‘Cake’), I quickly scanned the ‘net for the answer to the question that suddenly popped up: Why would the normally excellent Exodus wallet do that?
Money laundering and ‘illicit activities’
As it turns out, even those of us who’ve spent a bit of time in the liberty/crypto/freedom space can still be sweet, summer children. The answer, of course, was obvious. Monero is dangerous, you see, because Bad PeopleTM could use it for nefarious purposes! Money laundering! Illicit activities! Drug deals! There’s no telling what havoc can be wrought through the privacy coin! Unlike fiat currency which, of course, is entirely immune from potential scammers or scoundrels. “Only use USD,” the wise implore, “for it is honest and true.”
Sarcasm aside, all isn’t sunny in Cryptodelphia. Japan and South Korea have already banned Monero. Thanks, in part, to the European Union making everyone super-duper safe through its Anti-Money Laundering Regulations, European countries are quickly moving to follow suit.
In fairness to Exodus, they didn’t explicitly state that the coming crackdown is their reason for delisting everyone’s favorite privacy coin. According to MarshallBreadsticks, (Official Exodus Staff),
[…] after a careful review, we found that the current XMR experience no longer meets the standards we hold for usability and reliability in our wallet. As a multi-asset platform, it’s important to us that every supported asset offers a smooth and dependable experience – and unfortunately, we can no longer uphold that bar for XMR.
That may be true. But considering that crypto wallets have been pressured to delist Monero consistently over the last couple of years, the timing of Exodus’ decision seems…suspicious, to say the least.
What’s next?
Hold the line! For those of us non-scoundrels who use Monero for perfectly valid reasons (often for the “nunya” and “because screw you, that’s why” variety), it might be tempting to use this opportunity to swap your Monero out for BTC to hedge against the crackdown. I’ve certainly panic-swapped currency in less sticky situations. But in this case, I recommend weathering any potential storm by storing XMR in a friendly wallet, trading the coin with like-minded people, and even showing open-minded friends that you don’t have to be a degenerate scoundrel to use a privacy coin; you just have to believe that buying some produce and school supplies from peaceful people isn’t the government’s business.
Marie Antoinette may have lost her head, but in 2025 her advice is now sound: Let us use Cake (wallet)!
Liberty Dispatches 
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