Another cryptocurrency exchange has delisted a slew of privacy coins following recent regulatory requirements from the international body the Financial Action Task Force.
According to a notice from Korea exchange Upbit, transaction support for monero, dash, zcash, haven, bittube, and PIVX will end Monday, September 30.
At the beginning of September UpBit posted a notice of investigation by the exchange over the same coins.
The exchange was determining if the privacy coins met the requirements listed by the FATF guidance issued last June.
Privacy coins, to various degrees, allow coins to be transferred on a public ledger without exposing individual's addresses or identities.
Other exchanges have begun delisting the coins as well, such as Coinbase's delisting of zcash in the UK this summer or other Korean exchange OKEX dropping 5 privacy coins.
Writing on a company blog, Upbit said money laundering and the possibility of inflows of privacy coins to the exchange were the leading reasons for delisting.
"Nevertheless, the decision to end trading support for the crypto-asset was also made to block the possibility of money laundering and inflow from external networks. Upbit will continue to consider crypto-asset that represent anonymity functions as candidates for designation of investment warning crypto-asset."
A drop in exchange listings has been blamed for a flailing privacy coin prices.
Still, exchange delistings and price drops haven't necessarily slowed privacy coin tech development.
South Korea's Upbit Becomes Latest Exchange to Delist Privacy Cryptocurrencies
gepubliceerd op Sep 20, 2019
by Coindesk | gepubliceerd op Coinage
Vermeld in dit artikel
CoinDesk's On Tap Meetup With CoinDesk Japan Is Happening Tonight In Tokyo
We'll see you tonight at our Tokyo On-Tap event produced in cooperation with the amazing team at CoinDesk Japan.
BNB Gains 23% Plus Other Top-5 Cryptos This Week: LINK, HT, XRP, TRX
Though the bulls pushed the price above $2.8498 during the week, they have not been to sustain the breakout.
Privacy Coin Zcash Community to Develop Wrapped Token for Ethereum
The privacy-focused cryptocurrency Zcash is seeking access to Ethereum's decentralized finance ecosystem.
Telegram Responds to Investors on SEC Action, Hearing Set for Oct. 24
Telegram Open Network developers responded to its investors after American regulators abruptly announced that its $1.7 billion token sale was illegal.