Privacy Coin Crackdown Fears — Kraken/XMR & Israel Crypto Sanctions Dodge
Kraken's co-CEO admitted it was wrong to question XMR withdrawers, but traders warn this signals incoming government pressure on privacy coins. Separately, Netanyahu is reportedly exploring blockchain to bypass potential banking sanctions.
What we know
An account on X argued Kraken's email to Monero withdrawers was government-nudged, warning that despite the co-CEO's walk-back, governments are planning crackdowns on privacy coins. In a related geopolitical twist, another account on X (quoted by trader1sz) reported Netanyahu exploring crypto to bypass banking sanctions, prompting trader1sz to sardonically lower his ZEC price targets 'to zero.' another account on X announced CrossPay for privacy coin holders to pay sellers who only want USDT.
By the Global Eye 24 desk, with AI assistance. Updated as the story develops. Spot an error? Write to corrections@globaleye24.com.