ADVERTISEMENT

South Korea’s OKEx to review delisting of ZCash and Dash

Must Read

Indian regulators postpone introducing the “anti-cryptocurrency” bill.

The Indian government earlier revealed that it is drafting a bill that would ban the use of all cryptocurrencies...

Chinese Regulators to focus on Crypto Mining Firms in Mongolia

China has been a significant sector for the process of cryptocurrency mining since the beginning. Over the years, China...

Digital Bazaar awarded with $200k by the U.S. Homeland Security

The adoption of blockchain has seen a massive surge in the past few months as more and more organizations...
Avatar
Jai Pratap
A Mass Media Graduate who loves to write. Jai is also a sports enthusiast and a big movie buff. He loves to learn new things.

South Korea-based crypto exchange OKEx had earlier announced to delist privacy-centric crypto coins such as Dash, Monero, and ZCash. But now the exchange has revealed that the final decision on Zcash and Dash would be announced in the near future. The exchange had decided to delist these coins based on FATF's new guidelines regarding cryptocurrencies.

One of the leading crypto exchanges in the world, OKEx, had decided to delist particular crypto coins that would have made it challenging for them to comply with FATF new guidelines. The exchange had announced to stop trading of these crypto coins from 10th October onwards and stop withdrawal services from 10th December. But in an update the exchange has decided to review the delisting of these two privacy coins.

According to the latest FATF guidelines, it is necessary for crypto exchanges to collect and disclose information regarding transactions above a specific limit. These privacy-centric coins would make it challenging for crypto exchanges to comply with that guideline of FATF.

OKEx was not the only exchange that has announced to delist privacy coins such as Dash and Zcash. Another South Korean based exchange Upbit had also decided to cease support of 6 privacy coins. However, Ryan Taylor, CEO of Dash Core Group, and many others have said that these privacy coins can totally comply with new FATF’s guidelines. Ryan said that it was irrational for regulators to assess Dash differently than Bitcoin.

If OKEx decides to continue to support these privacy coins, other exchanges might also follow their lead and allow trading of these coins.

Disclaimer: Coinnounce's views are not necessarily reflected in the articles published, and they are the sole representation of the author's opinions. Article's information should not be taken as investment advice. Risks are involved in cryptocurrency investments and trading. Readers are urged to carry out extensive research before making a decision.

Leave a reply

Please enter your comment!
Please enter your name here

Latest News

Indian regulators postpone introducing the “anti-cryptocurrency” bill.

The Indian government earlier revealed that it is drafting a bill that would ban the use of all cryptocurrencies...

More Articles Like This