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UpBit to Delist Privacy Coins

September 9, 2019 5:10 pm by FomoHunt

Seoul — The South Korean cryptocurrency exchange UpBit will be delisting all coins that are focused on privacy or anonymity. This comes as a reaction to the Financial Action Task Force (FATF) and their recommendations earlier this year regarding privacy coins. In short, the FATF made several regulatory recommendations designed to increase regulations and prevent money laundering through the use of cryptocurrencies.

Zcash, Monero, and Haven are all projects that will be delisted in the coming weeks as exchanges prepare to fall into compliance. American exchanges are already preparing for an increase in regulations, with Binance US cutting it’s coin pairings from 150 to 30, when it launches later in September.