OKEx Korea Delisting Monero, Zcash and DASH

One of the largest cryptocurrency exchanges in South Korea brought the sword of Damocles over several confidential coins. Malta-based OKEx Korea’s Korea Exchange intends to exclude five coins to maximize payment privacy.

The trading platform cites a violation of the rules of the Financial Task Force (FATF), as reported by the Korean news agency.

Among the coins to be delisted, there are such large cryptocurrencies as Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC). They will be removed on October 10 with a December 10 deadline.

According to the FATF rules, cryptocurrency exchanges must store transaction information from both the buyer and the seller. In addition, if necessary, they should provide it to the relevant authorities. Since these coins ensure transaction anonymity, they conflict with FATF rules.

Similar measures are likely to affect other altcoins: Substratum (SUB), Salt (SALT) and Etherland.