Dash (DASH), ZCash (ZEC) Face CEX_io Delisting

Published on 15 September 2023 by Cryptovest Staff

The British exchange will follow the example of Coinbase UK to delist the privacy coins.

Privacy coins are facing a unique risk - delisting from exchanges just because of their privacy issues. In the past years, Japanese market operators have stopped offering those assets. And more recently, Coinbase UK delisted ZCash (ZEC). The next British market operator to delist the tokens is Cex_io. Dash (DASH) and ZEC will be delisted this September 15.

https://twitter.com/ElectricCoinCo/status/1167510675142234112

The British exchange confirmed the delisting, pointing out that as the chief reason regulations in various jurisdictions:

https://twitter.com/kiryl2005/status/1167621082804838401

This leaves UK-based buyers with slimmer access to anonymous coins. The delisting could be due to banking issues, as well as transparency requirements for the blockchain itself. The Bitcoin network is much more transparent, and law enforcement agencies have been able to scrutinize addresses for illegal activity.

The recent stricter regulations follow the recommendation guidelines from the Financial Action Task Force (FATF). Local regulators are also stricter, especially following the increased awareness of digital assets after Facebook proposed to launch its Libra coin in 2020.

Earlier in August, Poloniex also delisted DASH and ZEC, citing stricter US regulations. Security coins could potentially hamper efforts to read the blockchain record, and link transactions and balances to a digital or real-world personality.

According to Weiss Ratings, ZEC has a grade of C, relatively low due to limited activity and adoption. The network carries only a few thousand transactions per day, and the asset has faced skepticism due to the large pre-mine used to pay the team of founders. DASH also has an overall C rating. The coin attempted to become widely used and user-friendly, but so far struggles with lowered interest in altcoins.

Delistings have been performed for various reasons, most trivially for low trading activity. Some coins and tokens are delisted due to concerns they were sold as unregistered securities.