What are privacy coins & are they legal?

Could you elaborate on the concept of privacy coins and their legality? Are these digital currencies specifically designed to enable anonymous transactions? Do they pose any risks to the financial system or consumer protection? What are the regulatory frameworks surrounding their use, and how do they differ from traditional cryptocurrencies? Is it SAFE for individuals to invest in privacy coins, and what are the potential implications for the broader financial landscape? Clarifying these points would help us better understand the intricacies and complexities of privacy coins in today's crypto market.