The lack of privacy in on-chain transactions remains a significant barrier to the widespread adoption of cryptocurrencies as a payment method. This view was expressed by Binance founder Changpeng Zhao (CZ).
(Lack of) Privacy may be the missing link for crypto payments adoption.
â CZ đ¶ BNB (@cz_binance) February 15, 2026
Imagine, a company pays employees in crypto on-chain. With the current state of crypto, you can pretty much see how much everyone in the company is paid (by clicking the from address). đ€·ââïž https://t.co/LRmuPHuMMf
According to him, the transparency of blockchain technology hinders businesses from using digital assets in their operations, such as for payroll:
"The lack of privacy may be the missing link for crypto payment adoption. Imagine a firm paying its employees in cryptocurrency. In the current situation, anyone can simply click on the sender's address and see how much each employee is earning."
In a conversation with investor Chamath Palihapitiya, CZ shared a similar sentiment, adding that the lack of privacy is a barrier to Bitcoin's scalability.
"I believe privacy plays a fundamental role in our society. But right now, Bitcoin and most cryptocurrencies lack sufficient privacy features. When Bitcoin was designed, it was supposed to be pseudo-anonymous, but every transaction on the blockchain can be tracked, especially now with centralized exchanges requiring KYC," Zhao stated.
Community Opinions
Zcash founder Zooko Wilcox-OâHearn supported Binance's founder, emphasizing that this principle applies to all regular transactions.
"99% of all normal economic activity requires privacy," the expert believes.
A user named Lucie added that the privacy issue in cryptocurrencies poses real threats, ranging from online harassment to real-life persecution.
In 2025, there was an increase in so-called wrench attacksâphysical assaults aimed at stealing digital assets. According to a tracker created by Bitcoin developer Jameson Lopp, 70 such incidents were recorded during that period.
Since the beginning of 2026, the statistics have been updated with 14 more cases. The latest high-profile incident occurred on February 13: according to French media, the victim was Binance France CEO David Prensé.
Some community members labeled CZ's statements as hypocritical, pointing to the delisting of the privacy cryptocurrency Monero from Binance in 2024.
Imagine how hypocritical you have to be to talk about the importance of privacy and then remove XMR from Binance?
â TheFuzzStone (@thefuzzstone) February 15, 2026
Others considered dreams of privacy to be overly utopian. According to a user with the pseudonym Epykurious, governments worldwide will always view confidential cryptocurrencies as a problem.
He cited the cases against the developers of Samurai Wallet and Tornado Cash. The former were sentenced to actual prison time, while proceedings against the latter are ongoing.
It is worth noting that Barry Silbert, founder and CEO of Digital Currency Group, called financial privacy a "fundamental right" and the next "major asymmetric bet" for the crypto industry.