News: FATF Pressures OKEx To Delist Monero, Zcash, Dash; Litecoin Next?

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0:00:00 FATF Pressures OKEx to Delist Monero, Zcash, Dash; Litecoin Next?

0:00:06 This replace is delivered to you by “CoinCheckup News Updates” and was at the start written on “NewsBTC”.

0:00:12 A suggestion issued by the Financial Action Task Force is prompting OKEx to delist latest privacy-centering cryptocurrencies.

0:00:19 The Korean wing of the cryptocurrency agency introduced on Monday that it will cease buying and marketing of Monero, Zcash, Dash, Horizen, and Super Bitcoin on its alternate.

0:00:29 All the 5 belongings, in a proficiency or one other, permits customers to cover their medium of exchange minutes by introducing extra layers of safety.

0:00:37 OKEx mentioned in a be aware that the 5 cryptocurrencies power “violate laws or regulations/policies of government agencies and major agencies.” The alternate was citing FATF, an intergovernmental group that combats cash laundering on a worldwide scale.

0:00:52 The activity power in October 2019 enforced a so-called ‘travel rule,’ which requires cryptocurrency exchanges to acquire related customers’ data, together with the digital pockets addresses of senders and receivers concerned in a cryptocurrency transaction.

0:01:07 Privacy cash resembling Monero and Zcash assists customers in concealment these particulars.

0:01:12 That makes it hard for cryptocurrency corporations to watch and report these minutes to FATF.

0:01:18 OKEx mentioned it power delist Monero, Zcash, Dash, Horizen, and Super Bitcoin, but to maintain itself in line of the worldwide watchdog’s directives.

0:01:27 The transfer has made OKEx the second alternate to have gone after anonymity-focused cash at a lower place regulative strain.

0:01:34 Earlier in June 2019, manner earlier than FATF had obligatory the ‘travel rule,’ Japan-based Coincheck had eliminated Monero, Zcash, and Dash from its alternate after dealing with strain from the Financial Services Agency.

0:01:47 Thanks for checking this video!

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