OKEx South Korea to Delist Five Privacy Coins

The South Korean branch of OKEx, a cryptocurrency exchange, has announced that it is delisting all five privacy coins – Monero (XMR), Dash (DASH), zcash (ZEC), horizen (ZEN) and super Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term (SBTC).

According to the statement from the crypto exchange, the privacy coins “violate regulatory laws.” Because of this, OKEx South Korea will delist the coins as of the 10th of October. Users of the exchange have until the 10th of December for withdrawals for the five coins.

According to a report from Bridge Bridge The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat The bridge or liquidity bridge is an essential component for brokers that are enabling their clients to trade at interbank rates directly via a Prime Broker or a Prime-of-Prime (PoP). While market makers do not require a bridge in order to service its clients, brokers which are sending through orders to a liquidity provider or an electronic execution venue need a bridge to connect their trading platform to the interbank market.Bridges are used extensively in forex trading, specifically for Metat Read this Term Kyungjae, a spokesperson for OKEx Korea spokesperson said: “[Anonymity tokens] violate the laws of regulatory agencies and major institutions. The Financial Action Task Force (FATF) has recommended abiding by the Travel Rule, and we are taking steps to follow it."

The FATF is the global money-laundering watchdog. Earlier this year in June, the authority issued its final crypto guidelines in which it retained the “travel rule.” This rule requires exchanges to collect and transfer customer information during transactions.

The information needed to be collected includes the originator’s name, account number, and location information, among others. However, according to OKEx Korea in its statement, the privacy-oriented coins don’t allow exchanges to collect this information and are, therefore, not compliant.

“According to the statement corresponding to FATF R.16, OKEx Korea has restricted its implementation as the ' travel rule' recommends that exchanges be able to collect relevant information such as the name and address of the sender and recipient of the virtual asset. privacy-oriented cryptocurrency, aka that ' the dark Coin "has decided to take the deal end-of-support measures of the corresponding event,” the [translated] statement said.

OKEx continues to delist coins

The upcoming delisting from OKEx Korea follows on from the exchange already delisting some 16 tokens this year. Specifically, the company stopped supporting AirSwap (AST) and Digibyte (DGB) towards the beginning of this year.