Monero
Why Monero is down 10.4% today
Analysis
Monero (XMR) fell 10.4% over the past 24 hours as sentiment weakened following reports that India has prohibited privacy coins including Monero amid a money-laundering crackdown, raising concerns about access and liquidity in a major market. The news adds regulatory pressure specifically targeted at privacy-focused assets, which can trigger risk-off selling in the sector.
Contributing Factors (1)
Monero, Zcash, And Dash Prohibited In India Amid Money-Laundering Crackdown
India’s Financial Intelligence Unit (FIU‑IND) has launched a fresh anti‑money‑laundering crackdown aimed at privacy‑focused cryptocurrencies. The move targets Monero (XMR), Zcash (ZEC), and Dash (DASH...
Move Details
Explanation Confidence
High confidence in the explanation based on source reliability and timing.