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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.

Coinbase representatives have not yet commented on the news.

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.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.