Privacy Coins like Dash in OKEx before Delistung

For some of the vertebrae of Korea provides a niche offshoot of the stock exchange OKEx. The provider announces the removal of Dash and other Privacy Coins.

Stock exchange OKEx deletes five Privacy Coins

Even if the impact on the prices of the relevant digital currencies be currently more manageable: will follow the developments around the use of a group of “TATF” in the area of Privacy Coins, at the latest, in the medium term. Already several times we reported about the new guidelines of the Financial Action Task Force on Money Laundering (FATF). The merger, had repeatedly announced the introduction of internationally binding Standards for the global crypto market. Finally, it was said that in 2020, there should finally be so far. Who wants to trade Bitcoin or Ethereum, then, should be clear rules-bound. The same applies to the crypto-exchanges and trading platforms. The stock market OKEx seems to be well ahead to let obedience prevail. The same five currencies from the Privacy Coins will be gone in a few weeks of the trading platform.

OKEx as a pioneer for further deletions on the market?

The current message is for many of the skeptics as incentive for speculation about an early Out for Privacy Coins in total. In OKEx, however, is in some ways a special case. Because the operator delistet Dash and co. only from the South Korean platform for the crypto-trade. This will most likely prove that many an Asian country would want to ensure especially quick and to comply with the uniform Standards for clear conditions. Previously, some time ago, Thailand had set much more stringent guidelines for the crypto market. In addition to Dash, the Bitcoin exchange delistet OKEx in connection with the rules of the FATF, the following anonymous currencies:

• Monero
• Super Bitcoin
• Zcash
• Horizon

On the part of the OKEx it is currently not quite clear, the decision is based on the recommendations of the Task Force, which belongs to the OECD.

FATF requirements for data storage is not satisfiable

A Problem of Privacy Coins: The requirements for the exchange of retailer data for transactions with a volume of 1,000 USD upwards can not be met in the case of these Coins. Also, data on the origin of the User can not be in the required Form stored to be later available to the authorities. Just for Monero, the market capitalization is currently the most important anonymous Coin for more comparable measures with other stock exchanges could be hit hard. The OKEx trade with those currencies is still up to the 10.10.2019 allowed. For a further two months, customers of the exchange can withdraw funds from the stock exchange and otherwise in the Wallet for safekeeping. While the well-known Privacy Coins to get issues, announced the provider of Litecoin, recently, to want to through the Integration of the so-called MW-Protocol is an anonymous version of the LTC Coins offer.

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