Coinbase may limit ZCash trade for UK residents

Coinbase may limit ZCash trade for UK residents

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Coinbase, a UK-based division of the cryptocurrency exchange, intends to carry out delisting of the privacy-oriented cryptocurrency ZCash. Platform users received an email with the appropriate notification.

So, delisting is supposedly scheduled for August 26, after which the remaining ZEC will be automatically converted to British pounds if users do not withdraw it.

Representatives of Electric Coin Company (ECC) emphasized that delisting will occur only at Coinbase, and ZCash is fully compliant with British law and KYC / AML requirements.

Those affected by @coinbase UK issues: this is limited to Coinbase UK only. UK residents can still buy/sell Zcash through @cex_io. No other exchanges in the UK affected. To pre-empt speculation, we confirm that Zcash is 100% compatible with UK regulations & KYC / AML requirements.

Coinbase representatives have not yet commented on the news.

Recall that the regulators of different countries systematically put pressure on exchanges that support anonymous cryptocurrencies, such as Monero, Zcash and Dash.

So, earlier due to pressure from the local regulator, delisting of cryptocurrencies focused on increased privacy was announced by the Japanese exchange Coincheck. The ban on listing anonymous cryptocurrencies has been in force in Japan since June 2018.

Similar initiatives were also considered in France.

Coinbase may limit ZCash trade for UK residents

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