Coinbase UK delisting ZEC
Binance USA does not want to list Zcash?
I have no special insight here, but my guess is regulatory issues.
What’s the sense behind IF it’s a regulatory issue that it can not be disclosed in the case of Coinbase UK? And not being listed on Binance USA is doubtable if it’s related to regulatory, but more an internal Binance decision for whatever reason.
If it was regulatory the other UK exchanges would’ve dropped ZEC as well, so its not that. The govt would be going after cex as well.
Wondering if its a Greyscale+Coinbase thing where part of their deal means they Coinbase cant hold the coins.
I think a macro view is insightful in that I presume governments will act antagonistically towards cryptos in general and will do whatever they can to make access to them by the masses to be as difficult as possible. Since they can’t control them, they will restrict them…
This makes as well sense:
The move drove many to speculate on the reasons behind it. UK-based Bitcoin entrepreneur Alistair Milne tweeted that the delisting was likely a precondition to Coinbase getting access to the U.K. faster payments system.
“I.e. it wasn’t a regulatory requirement, but a banking one,” he suggested.
Banking requirements are the result of regulations.
What UK bank would want to lose access to “Faster Payments” system.
So will all UK exchange that want UK GBP transfer delist Zcash?
Barclays (famous bank) dumped Coinbase.
Clearbank, start-up bank, accept Coinbase as customer BUT only if Zcash delisted.
ZEC/GBP is dead.
Actually it is worse?! They are not just a “bank” they are a “clearing bank” giving service to other banks and finance companies. They are new, start-up, hungry for biz, but find Zcash too risky.
It’s a bummer, but it’s not a death blow. You can still buy Zcash in the UK with Gemini and various others.
Exchanges delisting is unfortunate, certain countries have imposed regulations that make certain people who use (though not limited to!) money services are incapable of protecting themselves, theyll spin it off as a convenience i.e. more tv time (yeah that’s a little sardonic but when’s the last time you watched TV on a non-smart device?)
ECC response ^
It is not a rumor. As a cex.io customer, I got the email and asked for clarification in the Telegram community chat.
These are the requirements from banks. It is pretty much like: do you want to keep the dollar transactions or you want to keep anonymous coins. That’s the jist of it.
We want to preserve our capability to process fiat.
Unfortunately, we are not in the position to influence banks on that (because guess what - they have regulators who tell them what to do).
As much as we understand the community desire and love for those coins, we also want to continue doing what has been the core of our business: maintaining fiat to crypto transactions.
keyword here is “Chainalysis’”. ))