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 that even countries where cryptocurrencies are not illegal are clamping down on the cryptocurrency. The latest is the UK as regulations have pushed Kraken to remove access for its citizens. Delisting Monero Over Regulations In an email sent out to users that were posted on Reddit, Kraken outlines the reason for the delisting. The email explained that the crypto exchange was trying to be in compliance with UK regulations and as such, it will no longer be supporting Kraken (Payward Ltd) on its platform. The delisting will happen in a week and will affect trading activities around the privacy coin. Related Reading | Cardano Leads Altcoins As Market Marks 13th Consecutive Week Of Inflows Kraken announced in the email that as of November 26th, UK users will no longer be able to trade Monero (XMR) on the platform. All trading activities will cea...