Coincheck De-Lists XMR, DASH, ZEC and REP Due To Local Authorities’ Pressure
May 21, 2018
Japan’s crypto exchange Coincheck has confirmed, it delists anonymous coins: monero, dash, Reputation and zcash. The decision was taken as the country’s regulatory body ordered to do so after NEM hack.
The four cryptocurrencies will be removed on June 18. Coincheck continued:
“The target currencies [XMR, ZEC, DASH, and REP] held on the discontinued date will be sold at the market price and converted into Japanese yen”.
Sales revenue will be transferred to customer account then. Until then clients may sell or give out these cryptocurrencies.
After NEM was hacked in January, Coincheck received an order from the Japan’s Financial Services Agency (FSA). The exchange is the acknowledged leader which means it is allowed to continue functioning as long as it complies with the agency’s requirements.
In accordance with the order by FSA, the exchange states that it subjects all its internal control and management system to fundamental revision and also reviews its “management strategy that thoroughly protects customers”.
Early this month Nikkei reported, FSA set new criteria for crypto exchanges with one of them for cryptocurrencies sold at platforms:
“Those granting a high level of anonymity and easily used for money laundering will as a general rule be banned”.