OKEX first announced its intentions to delist five privacy coins – also including monero (XMR), horizen (ZEN) and eccezionale bitcoin (SBTC) – found in September citing FATF’s suspect “ travel on this ” for crypto asset service providers, which sets out how national regulators just need to oversee the industry.

The South Korean ubemidlet of cryptocurrency exchange OKEX has halted, for now about, the delisting of handful of privacy coins due to company pressure from the Financial Stage Task Force (FATF).

According to a notice from the exchange on Thursday night, the planned suspension regarding both zcash (ZEC) coupled with dash (DASH) support could have been put under review.

Under the travel rule, crypto exchanges must be able to you can collect and disseminate relevant guidance for transaction monitoring like the name and address for this sender and recipient of practical currencies.

Monero, horizen and super bitcoin are still being delisted of your exchange as of today, Oct. $20, OKEx said. A final thought on zcash and go support will be announced wedding ceremony compliance review.

Speaking with CoinDesk via internet mail,   Josh Swihart, VP of marketing and business creativity at the Electric Coin Service} – the co-developer pointing to zcash – said a few of firm has been working with OKEx since the September announcement.

He commented:

“Zcash is now entirely compatible with all FATF recommendations including the travel take over. We’ve been working with OKEx and others in S. Korea and happy to hear that may OKEx has decided to consider additional time to further evaluate Zcash support based on newly at one’s disposal compliance information. ”

Since FATF’s announcement, there has been increasing must be for exchanges to drop keep for privacy coins.

Notably, Coinbase dropped zcash from its U. Nited kingdom. exchange in early August. A source told CoinDesk that the turn was in relation to forming a brand new banking relationship with ClearBank after Barclays withdrew its very own services from the company.

South Korean loan Bithumb also dropped zcash recently.

Finally the Electric Coin Company have been actively lobbying regulators in addition lawmakers over its cryptocurrency, according to Swihart.

An enter brief   during regulation and compliance processed in September stated:

“Zcash was designed to protect consumers’ financial personal space while retaining compatibility that have global AML / CFT standards, including the FATF Endorsements that were adopted in June 2019. Importantly, the confidentiality provided by Zcash does not halt regulated entities from accomplishing their regulatory obligations. ”

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