Korea to delist five confidential cryptocurrencies

The Korea Cryptocurrency Exchange will stop trading confidential cryptocurrencies XMR, DASH, zEC, zen and SBTC, as they do not comply with the recommendations issued by FATF.
Support for transactions for five cryptocurrencies will end on October 10, and withdrawal services will be available until December 10. The exchange stated that this decision was made because these cryptocurrencies do not comply with the recommendations of the International Group for the Development of Financial Measures against Money Laundering (FATF).
In June, FATF released its final guidelines on the regulation of the cryptocurrency industry. One of the rules requires exchanges to collect and share customer information during transactions, including the sender’s name, account number, location information, and the recipient’s name and account number. Korea stated that confidential cryptocurrencies do not allow such information to be collected, so the exchange will delist these coins. It is not yet clear whether the initiative will affect only the Korean branch of the exchange or all branches of the platform.

The delisting of confidential cryptocurrencies is likely to take place more and more often on regulated exchanges. As early as last summer, the ban on anonymous cryptocurrencies came into force in Japan, forcing local exchanges to delist XMR, DASH, REP and zEC.