Coincheck confirms removal of four privacy-oriented cryptocurrencies

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Cointelegraph Japan reported n May 18 that Japanese crypto exchange Coincheck recently announced that it would end trading for four privacy-oriented cryptocurrencies, Zcash (ZEC), Monero (XMR), Dash (DASH), and Augur (REP).

Following reports from March this year, Coincheck has now officially confirmed the removal of the four privacy-based coins on June 18. The exchange will remove the four coins in compliance with the counter-terrorist financing (CFT) and anti-money laundering (AML) measures recently issued by the Financial Services Agency (FSA), Japan’s financial regulator.

The FSA has been quite active in regulating domestic crypto exchanges, especially since Coincheck lost $532 million in NEM in a major hack on January this year.

In line with this, the FSA announced that local, officially registered exchanges would face restrictions with trading privacy-focused altcoins, as they are more difficult to trace compared to cryptocurrencies like bitcoin.

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