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16/09/19 09:00 UTC-4

OKEx Korean Department excludes all privacy coins

ExchangesOKEx Exchange in Korea delists 5 privacy coins
OKEx Exchange in Korea delists 5 privacy coins

The OKEx cryptocurrency exchange’s Korean department removes all five privacy coins – monero (XMR), dash (DASH), zcash (ZEC), horizen (ZEN), and super Bitcoin (SBTC) – from its list.

 

Excluding five coins from OKEx

TransactionTransaction
– is a financial term that means a logically meaningful operation that can only be carried out completely. Details
support for these five coins will end on October 10, and withdrawal services will end on December 10, OKEx Korea reported on Monday.

The exchange said the decision was made because the coins "violate" the travel rule of the Financial Action Task Force (FATF).

In June, FATF, the global money laundering watchdog, released its final encryption guidelines, maintaining a "travel rule" that requires sharing to collect and transmit customer information during transactions. This information includes the sender’s name, his or her account number, location, the recipient’s name, and the recipient’s account number.

OKEx Korea has stated that privacy-oriented coins do not allow the collection of such information, justifying the end of support for the five coins. It is possible that other crypto exchanges will follow suit.

  • In August, OKEx announced the delisting of more than 30 low-liquid pairs, mainly traded with ETH and OKB.

 

See also: "The Russians figured out how to return $2 million in BTC stolen from the Mt. Gox"

#Korea #OKEx #cryptocurrency #exchanges

Editor: Alyona Nabok
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