Is this only the beginning? Japanese cryptocurrency exchange Coincheck bans Monero (XMR), Dash, and Zcash (ZEC) due to its anonymity.
According to The Japan Times, Coincheck is dropping anonymity-centered cryptos. This decision is likely a result of the “business improvement orders” issued by Japanese regulators, the Financial Services Agency (FSA), as reported by CNBC.
Coincheck’s application to become a registered cryptocurrency exchange under the revised payment services law in Japan has been pending since September 2017, when it was submitted to the FSA. It seems the delay, says The Japan Times, is due to Coincheck’s involvement with anonymous cryptos such as Monero, Dash, and Zcash.
The FSA issued these improvement orders to six other Japanese exchanges as well and ordered a suspension of operations for two of them, Bit Station and FSHO. The FSA said that the exchanges lacked “the proper and required internal control systems” that put the exchanges at risk of money laundering and financing terrorism.