The South Korean arm of cryptocurrency exchange OKEX has halted, for now at least, the delisting of two privacy coins due to regulatory pressure from the Financial Action Task Force (FATF).
According to a notice from the exchange on Thursday, the planned suspension of both zcash (ZEC) and dash (DASH) support has been put under review.
Under the travel rule, crypto exchanges must be able to collect and disseminate relevant information for transaction monitoring such as the name and address of the sender and recipient of virtual currencies.
Monero, horizen and super bitcoin are still being delisted from the exchange as of today, Oct. 10, OKEx said. A final decision on zcash and dash support will be announced after the compliance review.
Speaking with CoinDesk via email, Josh Swihart, VP of marketing and business development at the Electric Coin Company – the co-developer of zcash – said his firm has been working with OKEx since the September announcement.
Since FATF's announcement, there has been increasing pressure for exchanges to drop support for privacy coins.
South Korean exchange Upbit also dropped zcash recently.
The Electric Coin Company has been actively lobbying regulators and lawmakers over its cryptocurrency, according to Swihart.
An open brief on regulation and compliance posted in September stated:
OKEX image via Shutterstock
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