OKEx Delists Monero (XMR) And Reviews Zcash (ZEC) And Dash (DASH)

Monero (XMR) has suffered a severe correction after the recent fall of Bitcoin (BTC).

During the past month or a bit more than that, the highest value that XMR has been able to record has been $82, and it was believed that if the trend got better, the coin is expected to hit that value all over again.

CryptoNewsz online publication revealed that such a thing would be possible if the privacy-oriented coin can move past $70 in the near future and rise to $75 before the end of October.

At the moment of writing this article, XMR is trading in the red and the privacy-oriented coin is priced above $53.

OKEx delists XMR

It’s been just reported that the South Korean division of OKEx, the Malta-based exchange has suspended the delisting of two privacy-oriented coins.

This was due to new regulatory guidelines released by the Federal Action Task Force (FATF).

It’s been reported that the planned suspension of Zcash (ZEC) and Dash (DASH) is now reportedly reviewed, says that blog post on OKEx official website.

Etehreumworldnews noted that “OKEX first revealed its plans to delist five privacy-focused digital currencies – also including Monero (XMR), Horizen (ZEN) and Super bitcoin (SBTC) – in September 2019.”

The online publication also explained that “The exchange operator noted that FATF’s controversial “travel rule” for virtual asset service providers (VASPs) has outlined how financial regulators must monitor the crypto industry.”

It’s also worth noting that Josh Swihart, VP of marketing and business development at the Electric Coin Company, the company behind the development of Zcash said the following:

“Zcash is entirely compatible with all FATF recommendations, including the travel rule. We’ve been working with OKEx and others in S. Korea and happy to hear that OKEx has decided to take additional time to further evaluate Zcash.”

Other than this, Monero enthusiasts are waiting for a surge in price by the end of this month.


Companies Mentioned

CoinMarketCap
CoinMarketCap

CoinMarketCap is a website that provides cryptocurrency market cap rankings, charts, and more. It was purchased by Binance for $400M in 2020.

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Eduard Watson Author

An experienced finance writer for more than 10 years, active industry watcher, and gadget enthusiast.

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