OKEx Delists Five Privacy Cryptocurrencies

OKEx, the South Korean cryptocurrency exchange made an announcement regarding the acing up of five cryptocurrencies on October 10th, owing to their noncompliance with the regulatory laws. After delisting 16 tokens already, this is the second time OKEx has announced delisting of five more privacy coins.

The five cryptocurrency coins that are going to be aced by the authority are Monero, ZCash, Dash, Horizen, and Super Bitcoin. All these coins will be withdrawn by 10th December. Previously many domestic market leaders like Bithumb, Coinone, Upbit, and Korbit, walked through the same path of delisting private coins.

This decision of OKEx has terminated supports for tokens that included AirSwap and Digibyte after the internal audit was done in February this year.

According to Bridge Kyungjae, an OKEX spokesperson, FATF has recommended authorities to abide by the Travel rules and they are just taking his words into action. According to the Travel rules, the identities of both the sender and the receivers should be tallied thoroughly. Exchanging the data of the traders with one another rules out the possibilities of currency theft to a great extent.

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Everett Dooley

Everett Dooley is a Finance and Cryptocurrency Analyst He has worked for almost a decade on several financial projects related to the stock market news, fundamental research and technical analysis for several websites. He obtained his Masters Degree In finance.

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