OKEx Exchange suspended delisting of Zcash and Dash

The South Korean branch of the OKEx cryptocurrency exchange suspended the delisting of the confidential cryptocurrencies ZEC and DASH to conduct additional analysis for compliance with the requirements of the regulator.

In September, OKEx first announced its plans to delist five confidential cryptocurrencies XMR, ZEN, SBTC, ZEC and DASH, citing FATF’s mixed recommendations for cryptocurrency service providers.

According to these recommendations, cryptocurrency exchanges should be able to collect and disseminate certain information for monitoring transactions, such as the name and address of the sender and recipient of virtual currencies.

However, according to the exchange, the planned delisting process of ZEC and DASH was suspended, while the delisting of XMR, ZEN and SBTC is still scheduled for October 10. The final decision to support ZEC and DASH will be made after further analysis.

Josh Swihart, vice president of marketing and business development at Electric Coin, which supports the development of the Zcash cryptocurrency, said that the company has been negotiating with OKEx since the exchange announced about the delisting of coins. He noted:

“Zcash is fully compatible with all FATF recommendations, including the sender and receiver tracking rule. We work with OKEx and other exchanges and are pleased that OKEx has decided to devote additional time to evaluating Zcash support based on new available regulatory compliance information. ”

According to Svihart, Electric Coin is actively lobbying the interests of the Zcash cryptocurrency in front of regulators and legislators. The company’s open regulation and compliance announcement in September said:

“Zcash is designed to protect consumers’ financial privacy while complying with global AML / CFT standards, including the FATF guidelines adopted in June 2019. The confidentiality provided by Zcash does not prevent regulated organizations from fulfilling their obligations. ”

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