Monero to release a guide to listing anonymous cryptos

by in Cryptocurrency News

Monero

The Monero cryptocurrency community (XMR) and privacy protocol developers at Tari Labs are preparing a guide for exchanges on working with privacy-oriented cryptocurrencies.

The publication of the document, entitled "Fundamental Factors and Regulation of Cryptocurrencies with Support for Privacy," will be published by the law firm Perkins Coie.

“We believe our white paper will provide a comprehensive analysis of private tokens and related concerns in the context of anti-money laundering,” said Louis Willacy, Chief Compliance Officer at Tari Labs.

The Guidelines agree that private coins carry higher risks, but they can be addressed with improved compliance mechanisms.

Trending: Optimism launches testnet of its Ethereum scaling solution

“Regulated financial institutions can comply with anti-money laundering requirements when they support private tokens,” Willacy added.

Coinbase CEO Brian Armstrong said last week that while he is personally willing to list Monero, he will not do so due to potential problems with the authorities.

Recall that in 2018, Monero was delisted by the Korbit and Coincheck exchanges. Later, BitBay, Bithumb, and Huobi Korea abandoned the coin. Delisting decisions were made to protect investors and combat money laundering.