Cryptocurrency exchange OKEx’s Korea unit is delisting all five privacy coins – monero (XMR), dash (DASH), zcash (ZEC), horizen (ZEN) and super bitcoin (SBTC).
The transaction support for the five coins will end on Oct. 10, while withdrawal services will stop on Dec. 10, OKEx Korea announced Monday. The exchange said the decision has been taken as these coins “violate” the Financial Action Task Force (FATF’s) “travel rule.”
In June, the FATF, the global money-laundering watchdog, issued its final crypto guidelines, retaining “travel rule,” which requires exchanges to collect and transfer customer information during transactions. The information includes originator’s name, his account number and location information, as well as beneficiary’s name and his account number.
OKEx Korea said privacy-oriented coins do not allow collecting such information, hence the end of the support for the five coins. It is possible that other crypto exchanges with fiat on-ramps will follow suit.
The Block has reached out to OKEx to understand whether the decision has been taken only for its Korea unit or globally. We will update this article if a reply is received.