XMR.to, a service that allows users to produce more private bitcoin transactions by utilizing the additional privacy features of another cryptocurrency, Monero, revealed through a Reddit post that they will no longer be serving US-based customers.
"XMR.to will for the time being not be serving customers in the US. We are working with our legal team to understand the best way forward. This policy will come into force tomorrow. Thank you for your understanding."
XMR.to works in this way:
- Users request to make a bitcoin payment for a specific amount and address that they would like to send funds
- The service acts as a middleman where the user then sends an equal amount of Monero to the company
- Once the Monero is received, XMR then conducts the bitcoin transaction on behalf of the user
Despite the announcement, it remains to be seen what the company can do to prevent US customers from actually using the service. Most users who use this type of service tend to emphasize privacy. Furthermore, the XMR.to website thoroughly outlines how users can shield their location (IP address) by using services like TOR.
"The only other link to us is your IP address (from which you are visiting this webpage right now), which you should hide if you wish to protect your privacy to the full extent (see best practices below)."
The company logs IP addresses, but if users use/already are using services like TOR, there may be very little they can do.