Bitcoin Privacy Service Will No Longer Accept US Residents Citing Legal Team Guidance

Do you live in the United States and you like to use We have very bad news for you.

The privacy service has recently announced on Reddit that it will no longer accept customers based in the United States. The policy will start to be enforced tomorrow, April 2.

The service is well-known for letting the users cloak their Bitcoin transactions using Monero. Monero is a privacy coin and, unlike Bitcoin, its transactions cannot be tracked in any way at all. People who used BTC and wanted to be private often used the services. However, now only people from outside of the U. S. can continue to do it.

How Does Work?

In case you are not in the United States (or you want to take a shot and use the service anyway), here’s how. First, the user has to make a Bitcoin payment to the company in the amount of money that he wants to send anonymously.

This service will basically be a middleman for you. They will receive your funds, change it up to Monero and use it for your payment. This way, nobody will actually know how you used the funds and you are protected. The service used to be quite popular for people concerned with their privacy while using the most valuable token in the market.

Despite blocking U. S.-based users, however, it does not seem like it will be very hard for the customers to simply ignore the warning of the company, which is probably aware of that. The site even explains how users can cloak their IDs using VPNs or services like TOR.

Therefore, you just need a fake IP address and you will probably be able to circumvent the issue. The formal announcement was probably made because the owners of the site are afraid to be chased by the authorities.

Monero’s privacy features generally concern regulators as they could be used for money laundering and terrorism financing, so many exchanges needed to remove Monero from their assets in order to continue to be compliant with their local legislation. Several countries have also suggested banning privacy coins like Monero.

Get Daily Headlines

Enter Best Email to Get Trending Crypto News & Bitcoin Market Updates

What to Know More?

Join Our Telegram Group to Receive Live Updates on The Latest Blockchain & Crypto News From Your Favorite Projects

Join Our Telegram

Stay Up to Date!

Join us on Twitter to Get The Latest Trading Signals, Blockchain News, and Daily Communication with Crypto Users!

Join Our Twitter

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.
Bitcoin Exchange Guide