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

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real or accurate. All CFDs (stocks, indices, futures) and forex prices are not provided by exchanges, but by market makers. Therefore, prices may not be accurate and may differ from the actual market price, which means that prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may incur as a result of using this data.

Fusion Media or any other person involved in Fusion Media assumes no liability for any loss or damage that may arise from reliance on the information contained on this website, including data, prices, charts and buy / sell signals. Please inform yourself comprehensively about the risks and costs associated with trading in the financial markets, as it is one of the riskiest forms of investment.

close

Subscribe Us to receive our latest news in your inbox!

We don’t spam! Read our privacy policy for more info.

LEAVE A REPLY

Please enter your comment!
Please enter your name here