CZ: Приватность криптотранзакций — ключ к массовому внедрению Translation: CZ: Privacy in Crypto Transactions is Key to Mass Adoption

The lack of privacy in on-chain transactions is a significant obstacle to the widespread adoption of cryptocurrencies as a payment method, according to Binance founder Changpeng Zhao (CZ).

He noted that the transparency of blockchain technology hampers businesses from utilizing digital assets in their operations— for instance, for payroll:

*»The lack of privacy may be the missing link necessary for the integration of crypto payments. Imagine a company paying its employees’ salaries in cryptocurrency. In the current scenario, anyone can simply click on the sender’s address and see how much each employee receives.»*

During a conversation with investor Chamath Palihapitiya, CZ shared a similar perspective, adding that the absence of confidentiality is hindering Bitcoin’s scalability.

*»I believe privacy plays a fundamental role in our society. However, at this moment, Bitcoin and most cryptocurrencies lack adequate privacy features. When Bitcoin was designed, it was intended to be pseudo-anonymous, but every transaction on the blockchain is traceable, especially now with centralized exchanges operating under KYC regulations,»* Zhao stated.

Zooko Wilcox-O’Hearn, the founder of Zcash, echoed CZ’s sentiments, emphasizing that this principle applies to all conventional transactions.

*»99% of normal economic activity requires privacy,»* the expert asserted.

A user known as Lucie remarked that the privacy issue in cryptocurrencies poses real threats, ranging from online harassment to real-life persecution.

In 2025, reports of so-called wrench attacks—in which individuals are physically assaulted to steal digital assets—became more frequent. According to a tracker created by Bitcoin developer Jameson Lopp, there were 70 such incidents recorded during that period.

Since the start of 2026, the statistics have been updated with an additional 14 cases. The latest notable incident occurred on February 13: according to French media, Binance France CEO David Prentice was targeted by criminals.

Some community members deemed CZ’s comments hypocritical, pointing to the delisting of the private cryptocurrency Monero from Binance in 2024.

Others considered dreams of privacy to be overly utopian. A user under the pseudonym Epykurious argued that governments worldwide will always view confidential cryptocurrencies as a problem.

As an example, he cited cases against the developers of Samurai Wallet and Tornado Cash. The former were sentenced to actual prison time, while legal proceedings against the latter are ongoing.

It’s worth noting that Barry Silbert, founder and CEO of Digital Currency Group, referred to financial privacy as a «fundamental right» and the next «major asymmetrical bet» in the crypto industry.