The ban of Privacy Coins on Binance highlights how dangerous centralized exchanges are

As most of us have heard by now, binance has just stopped the trading of multiple privacy coins on its platform in several European countries.

While it may be true that they have been pressured to do so by governments, it serves as an important reminder as to how dangerous centralized exchanges are and how much we have to trust them.

Taking this situation, a large number of coins were forced to have trades halted due to government action. This shows us how much power governments really have over centralized exchanges. Tomorrow, they may choose to ban all crypto transactions. Or what if they decide to force CEXs to stop withdrawals. They probably won’t, however, the fact that they could is scary.

One important thing to remember is that decentralized exchanges do not have these flaws. Personally, I think that if this latest development serves to do anything, it is to remind us the benefits of decentralized exchanges, and perhaps encourage us to use them more.

Please do let me know if you have any arguments against this, I would be very interested to hear them