UpBit To Delist Dash and PIVX and 4 other Privacy Coins
In what appears to be a crackdown on privacy coins, South Korean cryptocurrency exchange, UpBit has announced that it will delist and cease trading support for 6 privacy coins. This is coming days after OKEx South Korea announced its plan to delist 5 major privacy-centric coins.
The coins to be delisted from Upbit include Monero, XHV, TUBE, ZCash and masternode coins like Dash and PIVX. The irony of UpBit’s decision is that while some privacy coins have been hit by its decision, a privacy coin like Horizen is still on the trading platform, suggesting that the crackdown may not the over.
Following the announcement, the exchange immediately halted deposits for the affected cryptos. Trading support will be available until the 30th of this month. All pending buy and sell orders will be cancelled in bulk by the end of the support period.
Although support for these digital assets will end on September 30, users can still withdraw their coins 30 days after.
Upbit went further to clarify that it will still consider cryptocurrencies that have selective anonymity features for trading on its platform. Apparently, the exchange is concerned about the possibility of using privacy coins for money laundering.