Coincheck Japanese Cryptocurrency Exchange will withdraw trading pairs for cryptocurrencies monero (XMR), zcash (ZEC), and dash (DASH) next month.
The Tokyo Stock Exchange, bought by the Monex brokerage following a hacking in January that saw the platform lose $ 530 million in NEM tokens (XEM), announced Friday that it would no longer facilitate the Negotiating these cryptocurrencies, which allow their users to perform less traceable transactions than those performed with bitcoin and most other blockchain coins.
Coincheck states that it has decided to stop supporting these cryptocurrencies as a result of a “rigorous review” of its internal control system and as part of a new “management strategy that completely protects clients “. It is “inappropriate” the firm said, to deal with these currencies because they present risks to the company’s ability to maintain compliance with anti-money laundering regulations (AMLs).
As the NCC reported, the Japan Financial Services Agency (FSA) – the regulatory agency that authorizes cryptocurrency trading platforms to operate in the country – is supposed to put pressure on the stock exchanges to withdraw private coins.
Coincheck, whose FSA license was pending at the time of record piracy in January, was purchased by Monex in part because its former owners would have been unable to meet the order of business improvement. that the FSA had issued to him following the theft. Therefore, the removal of these private coind could be interpreted as an attempt by the new leadership to bring the platform back into the good graces of the FSA.
Augur’s reputation token (REP), which will be the native asset of the startup’s prediction market, will also be removed from the list, perhaps because of its association with the game unlicensed.
Traders have until June 18 to withdraw their XRM, DASH, ZEC and REP. Parts that are not withdrawn will be sold at market price and converted into JPY, which will then be credited to customer accounts.
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