Edit:
We can also guess they’re playing fractional reserve games with Monero.
- Deposit limit: 10.8 xmr/mo
- Withdraw limit: 4.6 xmr/mo
The fact that they’re letting you deposit double what you can withdraw means they don’t have enough Monero on their books to make it up for everybody. Otherwise, the deposit and withdraw amounts would be equal.
Monero is private by default, and lacks ways to make exceptions to that privacy for governments. They don’t like that, because they want to spy on people’s finances, and have been both banning it directly and putting pressure on exchanges to get rid of it. For instance a few years ago the US government got Binance to delist it as part of the settlement terms of a lawsuit against them. Kraken is a US company and is the only centralized cryptocurrency exchange left that both offers Monero and will let you withdraw/deposit US dollars.
The text in the email says a lot:
Emphasis mine, they are doing it to try to keep the government happy, government does not like financial privacy.
The user can do things transparently if they want to in Monero, but it’s not by default, obviously.
We already have public view keys.
There are view keys, but that wasn’t considered to be enough when Binance was demanding more access to fulfill their new compliance requirements and other privacy coins were making changes to give it to them.
True. The Monero community was basically like, fuck you, we aren’t changing anything. And if you don’t like it, then tough noodles.