In connection with FATF requirements, OKEx Korea Exchange delists XMR, DASH, ZEC and other private coins

Representatives of the OKEx Korea trading platform confirmed the information on the delisting of cryptocurrencies, which are focused on maintaining the privacy of users during operations.

It is known that Monero, Dash, Zcash, Horizen, Super Bitcoin have disappeared from the crypto exchange. The crypto exchange was forced to take such measures against the backdrop of stricter requirements for regulating the crypto industry from the FATF, an agency whose activities are aimed at combating money laundering and terrorist financing.

According to the new FATF requirements, which became known in June of this year, exchanges and custodial services should be able to identify participants in a transaction if its size exceeds $ 1 thousand. By 2020, more than 200 countries are expected to follow the new requirements and realize this opportunity, although it is known that for some decentralized blockchains this task does not seem to be feasible. All cryptocurrencies, which were delisted on OKEx Korea, just allow transaction participants to hide confidential information from third parties. Note that on the OKEx platform, these coins will still be available to users.