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The full English name of Monero is Monero, or XMR for short. It is an anonymous currency in the digital currency market. Since its inception, Monero has placed its own definition in the field of anonymous digital currencies. Stealth addresses and Ring
Important encryption technologies such as CT make transactions untraceable. It is this privacy that it is proud of, but it has some adverse effects. Some scammers will use this feature to carry out some fraudulent activities, such as gambling, money laundering, etc. Therefore, investors who do not know the currency are very curious about whether Monero is a scam? Below, the editor of the currency circle will introduce in detail whether Monero is legal.

## Is Monero a scam?

Monero is not a scam, but there are still some criminals on the market who use Monero to commit fraud, and the anonymity of the Monero privacy encryption protocol also benefits illegal users such as black market traders and money launderers. It is precisely because of these This principle has led some investors in the market to believe that Monero is a scam.

Due to the untraceability and privacy features of Monero, some people use Monero for illegal markets, such as drugs or gambling transactions, which means that the government's supervision of Monero will be stricter in the future, especially in the United States. Treasury announces restrictions on Tornado, which can be anonymized when mixed with other virtual currencies
Cash's sanctions mean that Monero, which has untraceable and anonymous characteristics, may also be included in the sanctions list of government regulatory authorities. As a result, the future development and price trend of Monero may be plunged into uncertainty.

Although Monero is derived from Bitcoin, it is more focused on privacy protection than most current cryptocurrencies, including Bitcoin and Ethereum, and has significant algorithmic differences in blockchain obfuscation. Bitcoin is an open ledger, and everyone can see the transactions inside it, while Monero is the most typical anonymous currency, hiding the amount of each transaction and ensuring that it is sent by disguising the addresses used by participants. The identities of both the sender and the recipient are anonymous, and all transactions can be guaranteed to remain 100% uncorrelated and non-traceable.

## Is Monero legal?

Monero is legal and Monero is a secure, private and decentralized digital currency that can be used for anonymous transactions. The biggest difference between it and Bitcoin is anonymity. Because of the privacy protection technology it adopts, it has been widely imprinted so far. Monero has been noticed and recognized by many countries and can currently be purchased and traded in many others.

Monero will become increasingly popular. In addition to extremely high privacy protection, Monero also provides a strong community system, as well as support for technology branches and network expansion. Monero offers a unique trading experience among popular digital currencies, and although Monero has made improvements in mining, anonymity protocols, and scalability, it still needs to get better.

If the problems caused by long transaction cycles and anonymous issues can be overcome, more people will be willing to use Monero for transactions, and more developers and projects will join the Monero ecosystem to improve its liquidity and Applicability, these will promote the popularity and recognition of Monero around the world.

The above content is the detailed answer of the editor of the currency circle to the question of whether Monero is a scam and whether it is legal. As one of the three mainstream anonymous coins, Monero’s advantage lies in the original ring signature technology it uses. This technology was once unique in the currency circle, but now there are more powerful zero-knowledge technologies on the market. Proof of technology, so the challenges facing the future development of Monero are still unknown, but the price of Monero has always been relatively stable, mainly due to its excellent privacy protection, scalability and decentralization characteristics, it may Make the development of Monero even broader.