I think this is forthcoming so I don't considering this a big blow to the market, although there are still exchanges that are willing to trade privacy coins though, but it's pretty obvious that government doesn't want any of this crypto at their backyard.
If there is a dump for sure those coins that are mentioned, but if those holders shifts it to other exchanges then I don't see any big dent of the current marketcap. So I guess, short term effect will be felt, but it will not last and people will go back to the market after after dumping it.
Topic: sad news, prepare for dump - page 2. (Read 349 times)
This information wouldn't be a problem to the market. It is an issue of exchange delisting coin and moreover, bitcoin is not affected. Thus, it will appear as if nothing happened in the cmc.
Very bad I think this information is not fud, hopefully this incident does not impact too long and the government was able to reveal the perpetrators and arrested him.
Prepare for the wave, it was and is more than obvious that governments don't like privacy focused coins, which is exactly why I am of believe that eventually, these coins will be outlawed, and it's perfect because they will become only tradable through decentralized platforms. What's the purpose of a privacy focused coin if you buy it through a centralized exchange? It makes zero sense.
People quite often complain that Bitcoin is lacking privacy features, but they don't realize that the lack of privacy on Bitcoin's side is exactly what helps it move forward in a heavily regulated market.
People quite often complain that Bitcoin is lacking privacy features, but they don't realize that the lack of privacy on Bitcoin's side is exactly what helps it move forward in a heavily regulated market.
Yes,it may only affect that four crypto currencies which was removed from the exchange so it will help for the increase in the price of bitcoin.
How exactly will this help increase the price of Bitcoin? At worst these coins will be dumped for Bitcoin, which means that more Bitcoins will end up on the market than previously.
Always a risky thing investing in privacy coins, as you'll at some point most probably go against the government.
I think that will only affect privacy coins, it is difficult for regulators to accept such coins but as there are many decentralized exchanges, that will not turn a big problem in the future.
Yes,it may only affect that four crypto currencies which was removed from the exchange so it will help for the increase in the price of bitcoin.But Japan is one of the important country for the crypto currencies but the population of Japan is very less and it may have little contribution with those four coins that OP was mentioned so I am also think that this may not have big impact.
That's old news and it will only affect privacy coins, not the whole market.
I think that will only affect privacy coins, it is difficult for regulators to accept such coins but as there are many decentralized exchanges, that will not turn a big problem in the future.
Recently hacked Japanese crypto exchange Coincheck will end trading for four privacy-oriented cryptocurrencies, Monero (XMR), Zcash (ZEC), Dash (DASH), and Augur (REP), Cointelegraph Japan reported May 18.
Following reports from back in March, the exchange has now officially confirmed the removal of the four anonymity-focused coins will come into effect June 18. According to Coincheck’s blog, the exchange will remove the four cryptocurrencies to comply with counter-terrorist financing (CFT) and anti-money laundering (AML) measures recently issued by Japan’s financial regulator, the Financial Services Agency (FSA).
The FSA has been especially active in regulating domestic crypto exchanges, specifically around customer protection, since Coincheck lost $532 mln in NEM in a major hack in January of this year.
As part of its efforts, the FSA has stated that local, officially registered exchanges will face restrictions on the trading of privacy-focused altcoins, since they are more difficult to trace than cryptocurrencies like Bitcoin (BTC).
As Friday’s official statement from the exchange says, the targeted cryptocurrencies will be sold at market price and converted to Japanese yen.
Earlier this week, Monex Inc, the company that recently acquired Coincheck, revealed plans to expand the exchange to the U.S., claiming that the U.S. and Europe are more advanced than Japan in terms of regulatory clarity and “attracting institutional investors” to crypto.
read more at https://cointelegraph.com/news/hacked-crypto-exchange-coincheck-confirms-removal-of-four-anonymity-focused-altcoins
Following reports from back in March, the exchange has now officially confirmed the removal of the four anonymity-focused coins will come into effect June 18. According to Coincheck’s blog, the exchange will remove the four cryptocurrencies to comply with counter-terrorist financing (CFT) and anti-money laundering (AML) measures recently issued by Japan’s financial regulator, the Financial Services Agency (FSA).
The FSA has been especially active in regulating domestic crypto exchanges, specifically around customer protection, since Coincheck lost $532 mln in NEM in a major hack in January of this year.
As part of its efforts, the FSA has stated that local, officially registered exchanges will face restrictions on the trading of privacy-focused altcoins, since they are more difficult to trace than cryptocurrencies like Bitcoin (BTC).
As Friday’s official statement from the exchange says, the targeted cryptocurrencies will be sold at market price and converted to Japanese yen.
Earlier this week, Monex Inc, the company that recently acquired Coincheck, revealed plans to expand the exchange to the U.S., claiming that the U.S. and Europe are more advanced than Japan in terms of regulatory clarity and “attracting institutional investors” to crypto.
read more at https://cointelegraph.com/news/hacked-crypto-exchange-coincheck-confirms-removal-of-four-anonymity-focused-altcoins
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