XMR, ZEC, DASH
Privacy coins are not a single coin—they’re three philosophies:

$XMR : The sender, the recipient, and the amount are all kept confidential.
By default, privacy is on—nothing can be seen. Extreme, but it also attracts the harshest regulatory hate.
$ZEC : Selective privacy.
Choose transparent addresses or shielded addresses—your call. You can also let auditors “view the keys”—that’s why it can be listed on ETPs.
$DASH : A practical take on fast + private payments.
Privacy is a feature, not a belief. Built for everyday transfers.

Three answers, one question: Why should you be allowed to see my money?
XMR says: Never look.
ZEC says: I decide who gets to see it.
DASH says: It doesn’t matter if it’s invisible—speed is what counts.

These three routes mean regulators get three different “faces”—and the result is what you’ve seen:
One has been delisted for years, one just made it onto a European ETP, and one is lukewarm.
Technology has no right or wrong—narrative determines life or death.