Altcoins, Cryptocurrency, Cryptocurrency Exchange, News, Regulation

ShapeShift Has Delisted Privacy Coins Monero, Zcash, Dash

Switzerland-based digital assets trading platform ShapeShift has delisted three famous privacy digital coins including Monero (XMR), Zcash (ZEC), and Dash (DASH). These privacy coins have been delisted over regulatory concerns. Now users of ShapeShift won’t be able to access these three digital tokens on its trading platform. The delisting of coins was confirmed by an executive of the cryptocurrency exchange. This move has been taken in a bid to restrict the regulatory risk of the firm.

Out of these three privacy coins, two including Monero (XMR) and Dash (DASH) had already been thrown out of the trading platform on Friday. However, their delisting was not announced by the company itself. But now the exchange’s executive has provided confirmation regarding their removal from the platform who reported the delisting of another privacy coin Zcash (ZEC) as well.

ShapeShift made an investment in Zcash’s one of the creators Electric Coin Company (ECC) and added trading support for ZEC in the year 2016. And now the company has delisted it.

While reporting the delisting of privacy coins, the Chief Legal Officer (CLO) of ShapeShift Veronica McGregor said that they want to de-risk their company from a regulatory point of view therefore they have decided not to list these coins any further. McGregor, however, said they may think over this situation in the future:

“We delisted all those coins at the same time, for the same reason. We are de-risking the company from a regulatory standpoint, so, for now, we are not working with those coins. We may revisit the situation in the future.”

Though ShapeShift has delisted privacy coins, other centralized cryptocurrency exchanges are continuously allowing the trading of privacy-focused digital tokens. The world’s leading digital currency exchange in terms of market cap Binance’s subsidiary Binance US is still supporting Zcash. Apart from this, users can buy or trade ZEC on some other major digital currency exchanges as well including Gemini, Kraken, and Coinbase. In addition to supporting ZEC, these crypto exchanges also support DASH on their trading platform.

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