In an email quoted by Reddit users, Kraken, the world’s eighth largest cryptocurrency exchange by trading volume, announced it would be the data protection coin Monero (XMR) in accordance with UK regulations. The platform will cease all XMR trading activity, set XMR wallets to only withdraw and forcibly liquidate all existing XMR margin positions after November 26th.
Using advanced cryptography, privacy coins like Monero obscure participants’ public wallet addresses and payment amounts when their transactions appear on the blockchain, making it unlikely, in the context of current technology, for forensic units like Chainalytics to digitally track the identity of the transaction parties.
Read more on Coin Telegraph
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