The European Union is preparing a draft to regulate privacy coins in the states. Privacy coins are digital assets that are designed to protect the privacy of users’ IDs and transactions. The well known privacy coins Monero, Zcash, and Dash are going to be banned in EU nations. Primarily to avoid users’ traceability, the EU financial institutions made the decision.
“Secret is not a privacy coin,” by Secret Network
Secret altcoin prices are going high after spreading rumors of an EU ban on privacy coins in the states. The price of the Secret reached $1.29 (USD) from $0.64 (USD) within a night, i.e. it crossed its profit level to 101%. The analytics indicate that Secret will gain more profits in the upcoming years. The Secret Network is considered one of the best privacy preserving smart contracts on the blockchain.
It is the first mainnet blockchain with data privacy by default for every app. It is an open source network built on the Cosmos platform using layer-1 blockchain techn
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