Kraken Is Delisting Top Privacy Coin Monero (XMR) For UK Users
It seems UK users will soon be unable to access Monero on one of the leading crypto exchanges. There have always been concerns around the Bitcoin competitor regarding the absolute privacy that the digital asset confers. Until now, it remains impossible to track/trace Monero transactions, making it the ultimate privacy coin, and governments are worried that individuals will use this to evade taxes. Another concern is around the use of the cryptocurrency as a criminal tool, although there is no definitive way to tell if this is true. However, it remains high enough on the list of concerns....
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Although privacy coins grant users unparalleled protection for their personal information, some fear they can easily be used for illicit purposes. In an email quoted by Reddit users, Kraken, the world's eighth-largest cryptocurrency exchange by trading volume, announced it would be delisting privacy coin Monero (XMR) in compliance with regulations in the United Kingdom. The platform will cease all XMR trading activities, set XMR wallets to withdraw-only, and force-liquidate any existing XMR margin positions after Nov. 26.Through advanced cryptography, privacy coins like Monero obscure....
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