Dash Cleared to Be Relisted on Japan’s Crypto Exchanges

Dash Cleared to Be Relisted on Japan’s Crypto Exchanges

Yosuke Suda, Dash representative in Japan, has obtained the approval to relist the cryptocurrency on Japan’s crypto exchanges, BTCmanager website reported.

Suda earlier said in a proposal to relist Dash on Japanese crypto platforms that he has been working with the Dash Core Group (DCG) to bring the coin back to local exchanges.

Dash Japan representative also said the team was in touch with the local exchanges and media outlets to relist the altocoin.

Exchanges avoid privacy coins

In 2018, Japan’s Financial Services Agency (FSA) ordered the platforms to delist all privacy-centered cryptocurrencies such as Dash (DASH), Zcash (ZEC), and Monero (XMR). The move aimed to combat money laundering and cyberhacking.

Coincheck removed DASH, ZEC and XMR from its platform after losing more than $500 million worth of NEM in a hack two years ago. OKEx, Souh Korea’s crypto exchange, also removed five privacy altcoins including Dash.

However, Suda said Dash is based on a transparent blockchain and abides by the FATF guidelines.

In August 2019, Coinbase announced abandoning Zcash support in the UK. Electric Coin Company, the developer of Zcash, said on its Twitter account:

“Those affected by @coinbase UK issues: this is limited to Coinbase UK only. UK residents can still buy/sell Zcash through @cex_io. No other exchanges in the UK affected.”

It added:

“To pre-empt speculation, we confirm that Zcash is 100 percent compatible with UK regulations & KYC/AML requirements.”

In September of the same year, South Korea’s Upbit and OKEx crypto exchanges declared stopping support for DASH, Monero (XMR), and ZEC.

Bitstamp indicated that users may notice indications of engineering work related to digital assets applicable, including:-

“We can’t ensure that this will bring about any new postings and it doesn’t preclude some other resources from being checked for conceivable help at Bitstamp.”

It is worth mentioning that Japan aims to improve the crypto industry through providing robust regulations. The government earlier announced that the amended regulations, such as the Payment Services Act (PSA) and Financial Instruments Exchange Act (FIEA) will be effected in May 2020.

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Rabea Maguid 551 Articles
Rabea Maguid is a journalist completely obsessed with crypto industry. He holds B.A. from Al-Azhar University, and has a background in journalism and economics. Rabea Maguid likes to think about the future in a positive way, and sees blockchain as a potential driver of deep societal change.