- Liquid Exchange is open to the idea of relisting ZEC in the future
- Liquid delisted assets focused on gambling and adult entertainment
- ZCash is still listed by the regulatory-stringent New York-based Gemini
ZCash News Today – Japanese Liquid exchange is still open to the idea of relisting Zcash. Recall that the outfit recently delisted ZCash as a regulatory precaution. Now, despite delisting the privacy-focused asset ZEC to meet regulatory compliance, the Japanese exchange has announced that it isn’t against relisting the token in the future. The Coo of the exchange Seth Melamed on July 25 while referring to MAS (Monetary Authority of Singapore):
“Regarding ZEC and the decision to stop offering trading services temporarily, we require further regulatory guidance from MAS and other industry working groups before we resume ZEC trading on Liquid exchange. We do not know of any exchange that applies the Payment Services Act PSA license to allow them to list ZEC. When there’s more clarity for Liquid to list ZEC we will welcome ZEC back.”
Why Zcash and Other Offerings Were Delisted
The organization behind ZCash, the Electric Coin Company, tweeted about Liquid’s plans to delist ZEC on July 22. According to a public notice from Liquid exchange, more than 27 different digital currencies were removed including ZEC. The exchange claims it opted to delist ZEC and others to gain regulatory approval in Singapore from the MAS in form of a Payment Service Act License. Liquid’s Melamed explained regarding the move:
“MAS has had many sessions with VASPs regarding their concerns over the listing of privacy tokens. MAS has mandated that all VASPs create a plan that will ensure that they adhere to the FTR (Funds Travel Rule) and AML/CFT directives issued by FATF.”
Privacy assets as they are commonly called, conflict with the efforts of regulators and law enforcement to track the activities of money launderers and other bad actors. Privacy coins are anonymous digital assets that hide transactions. This can ensure that there is no tracking data. The feature was put in an effort to protect user privacy.
Liquid Delisted Assets Focused on Gambling and Adult Entertainment
Additionally, Liquid removed assets that are focused on gambling and pornography citing regulatory obligations regarding such assets. Melamed pointed toward a lack of the previous volume that was posted by the affected assets on Liquid exchange which ended up in the exchange delisting them, including ZCash. He noted that the influence of legal obligations in the digital currency industry resulted in concerns in comparison to the mainstream sector.
Contrary to the stringent move implemented by Liquid in Singapore, the regulatory-friendly exchange Gemini still has ZEC listed on its roster since 2018. This is even more surprising considering that the exchange is located in the United States, New York precisely were regulation is most stringent on privacy tokens.