Coincheck Japanese crypto exchange delists Monero, Zcash and Dash
Coincheck, a Japanese cryptocurrency exchange has announced that it will be delisting all pairs of privacy coins being traded on the exchange. This includes Monero, Zcash and Dash. Coincheck was bought by Monex, a brokerage firm that got infamous for the NEM hack where more than 530 million dollars worth of NEM were stolen. Coincheck has announced that it will no longer be supporting the aforementioned privacy cryptocurrencies.
Reason? They are less traceable than bitcoin and other blockchain based coins. It is doing so after internal review of their control system and part of their new management strategy that protects its customers. Their new strategy is to protect their customers and is not appropriate for them to deal with these privacy coins.
Japan’s FSA is a regulatory agency that licenses various trading platforms to operate in their country and is pressing exchanges to delist all privacy coins. Their move to delist privacy coins could be an attempt by their new management to bring back platform into FSA’s good graces.
The market has been stopped but users are free to withdraw their Monero, Zcash and Dash. In other news, Augur (REP) will be removed as well as it is associated with unlicensed gambling.