Japanese Liquid Exchange To Delist Zcash To Get Licensed In Singapore

Japanese cryptocurrency trade Liquid is accordingly delisting privacy-focused coin Zcash (ZEC) to be able to apply for a license to function in Singapore.

The Electric Coin Company, which develops the Zcash cryptocurrency, introduced the information in a July 22 tweet. They detailed that Zcash will likely be delisted from Liquid aboard 28 different tokens.

Liquid, which recently ranked #6 amongst prime tier exchanges on CryptoCompare, has not but posted an official assertion on whether or not they plan to delist Zcash. Cointelegraph reached bent on the trade with extra queries and can replace the clause unfinished any new info.

Zcash is all appropriate with AML and CFT laws, Zcash developer says

According to the Electric Coin Company, Liquid’s choice was “made out of an abundance of caution” to be able to immediate the method of acquiring the license.

The Zcash developer accented that regardless of privacy-oriented nature, Zcash is “entirely compatible” with Anti-Money Laundering, or AML, and Combating the Financing of Terrorism, or CFT, laws. The Electric Coin Company highlighted that this goes consistent with December 2019 discover by Singapore’s central commercial enterprise institution and medium of exchange regulator, the Monetary Authority of Singapore, or MAS.

Expressing hope that Liquid will quickly reverse its choice to delist Zcash, the Electric Coin Company continued:

“We are not aware of any other exchanges taking a similar course of action. However, we are always available to help exchanges who wish to better understyou bet Zcash fits inside a regulative framework, you bet exchanges can follow with their AML/CFT obligations.”

What is Zcash?

Zcash is one altogether hottest privacy-oriented cryptocurrencies aboard cash like Monero (XMR). Opposed to public blockchains of cryptos like Bitcoin (BTC), Zcash is designed to permit customers to by selection disclose non-public details about their minutes. Despite some reviews claiming that greater than 99% of Zcash minutes are traceable, there may be all the same apparently a pattern to delist privateness cash like Zcash, as main exchanges like Coinbase did in August 2019.

As according in April, Bitstamp was additionally preparation to delist Zcash amid an growing variety of exchanges searching for to distance themselves from privateness cash on account of related regulative dangers.

Japanese Liquid Exchange To Delist Zcash To Get Licensed In Singapore

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