In January of chopped crypto-currency exchange Coincheck, after an internal Review, a whole series of “Privacy Coins” of the platform. This was necessary because with those crypto-money laundering and other criminal activities currencies could be carried out.
Coincheck investigated already for a long time whether Privacy Coins like Monero, ZCash or Dash through their non-traceability of a Problem in terms of money laundering and the financing of terrorism would pose.
This Friday, the company announced that XMR, REP, DASH, and ZEC will be deleted within one month (up to the 18.06.2018) of the platform. In accordance with a request by the financial Supervisory authority of Japan at the 08.03.2018 the platform was prompted stricter safety regulations to introduce a further Hack to avoid this was to happen in January.
The above-mentioned reasons amount to, as it often does, to the possibility of money laundering, terrorism financing and other criminal activities, the Monero, Dash, and ZCash, due to their high level of anonymity.
All owners of the above-mentioned crypto-currencies are called store your Coins on Coincheck, to 18.06.2018 be deducted. Coincheck is this sell otherwise to the current purchase price on the closing date and the amount in Yen refund.
As we already reported, was Coincheck purchased by Monex Group, which has positioned itself since then, new to all the legal requirements of the FSA complied with in full. In this step, the deletion of the Privacy Coins, seems to be a part of this realignment.
We hope that this remains an isolated case and no further exchanges in this model.