Cryptocurrency news Platform Drops Zcash Support For Singapore License Platform Drops Zcash Support For Singapore License

Electric Coin Company, behind the development of the ZCash (ZEC) cryptocurrency, announced that it received a notification from the exchange about the planned delisting of the coin.

Additionally, 28 other cryptocurrencies will be withdrawn from trading.

The company believes that made this decision due to “excessive caution in order to obtain a license as soon as possible.”
“Zcash is fully compliant with AML and CFT (Anti-Terrorist Financing) procedures. This also applies to the procedures established for the Singapore exchanges. This is confirmed by an information letter from the local regulator MAS, ”the company said.
Electric Coin points out the lack of information about similar actions of other cryptocurrency exchanges and proposes to consult on the ZEC’s compliance with the AML and CFT requirements. The company hopes that will change its mind and return ZCash to the listing.
We will remind, earlier in Electric Coin declared about the absence of threats from the Chainalysis and Elliptic tools for the privacy of ZEC when using shielded addresses. Last week, the fourth major update called Heartwood took place on the ZCash network.