So,this Japanese based crypto exchange coincheck just revealed that it will be taking 4 coins off of their market. The 4 coins are monero, zcash, dash, and augur.
The reason behind it you may be wondering?Well, they have too, to comply with the counter-terrorism financing (FTC), and the anti-money laundering (AML) measures recently put in place by Japan's financial services agency (FSA).
The FSA has been actively regulating domestic crypto exchanges. Especially, since coincheck was hacked back in January, and lost $532 million in NEM. That's no small hiccup.
On Friday May 18. They said they will be selling all 4 types of cryptos at market price, and converting it into yen. (The Japanese dollar for anyone that isn't familiar with their currency.)
This might not last forever though for anyone that uses this exchange.
The company Monex inc. That recently acquired coincheckb said earlier last week. That they are looking into expanding the exchange to the U.S. and Europe. Saying that the U.S and Europe are more advanced then Japan in terms of regulatory clarity, and attracting institutional investors to cryptocurrency.
So when they aren't based in Japan anymore there is a chance that monero, zcash, dash, and augur coins will be back on their exchange. So don't give up hope yet.
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