Coinbase UK to Delist Zcash Cryptocurrency
The British branch of the American exchange Coinbase will delist the Zcash cryptocurrency. British exchange clients received a letter with the corresponding notification.
“As of August 26, 2019, Coinbase UK customers will no longer be able to keep Zcash in their accounts,” the company writes, adding that it will automatically convert Zcash balances to UK pounds unless users do it themselves..
The exchange has not yet given any official comments in connection with the latest changes.
Electric Coin Company, which oversees the development of Zcash, confirmed that the delisting affects only Coinbase and does not cover other platforms serving UK traders.
“To prevent the spread of speculation, we confirm that Zcash is 100% compliant with UK laws and KYC / AML requirements,” the company writes..
At the end of July, the UK Financial Conduct Authority (FCA) presented the final guidelines for the cryptocurrency industry, according to which cryptocurrencies such as Bitcoin and Ethereum are not included in its regulatory powers..
Zcash is trading at $ 57 at the time of publication, having lost more than half of its capitalization since mid-June.
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