OKEx Korea to delist anonymous crypto

Posted 17 September, 2019

The cryptocurrency platform OKEx Korea, focused on the South Korean market, announced its intention to delist anonymous cryptocurrencies. The relevant requirements were put forward by the FATF as part of international programs to combat money laundering and the financing of terrorism.

"From Oct. 10, the exchange will no longer support trading in Monero (XMR), Dash, Zcash (ZEC), Horizen (ZEN) and Super bitcoin (SBTC)," stated in the message platform OKEx Korea

The specialists of the Group for the development of financial measures to combat money laundering have compiled lists of cryptocurrency market control procedures, called AML and CFT.

This includes restrictions on working with completely anonymous coins, most often used in criminal transactions. Also, financial companies using and servicing digital assets must exchange information about wallet balances and the number of transactions.

Representatives of OKEx Korea previously reported that they intend to follow the requirements of regulators, who have recently radically tuned in to counter the use of cryptocurrency in the criminal sphere. Deanonymization of assets is not planned yet, but all transactions should be controlled by platforms.

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