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Konskie is in Poland.
According to a company email that was shared on the internet last week, the UK will no longer be able to trade in privacy coin monero from next week.
The email stated that by November 26, the UK users would no longer be allowed to trade monero on the platform. The balances can be withdrawn from that date to a personal wallet or another exchange, but deposits will no longer be credited after this Friday.
If open margin positions are not closed by Friday, they will be liquidated and any open orders will be canceled, according to the email.
People will only be able to reduce margin positions in monero and won't be able to open new margin positions from this Tuesday.
The Financial Conduct Authority is the UK financial markets regulator.
The UK FCA has a position on monero. One of the world's largest exchanges is constantly working to balance offering one of the most comprehensive sets of assets available to investors and traders, with all applicable regulatory compliance obligations.
"We have responded to the guidance given by the FCA."
Monero is a privacy coin that can obscure public wallet addresses and payments when transactions occur on the block chain.
Privacy coins like monero can be used in private and anonymous transactions to hide a user's real wallet address and balance. Anyone can see the public addresses and transactions that take place on their systems with the help of the digital currency. Privacy coins have become more cautious due to the growing scrutiny from regulators.
At the beginning of the year, Bittrex said it would stop clients from trading privacy coins. In July of last year, the largest publicly listed exchange said it would hold off on listing privacy coins for the time being due to regulatory uncertainty.
Business Insider has an original article.
