Liquid Exchange. Binance Killer. Fully Regulated In Japan Where Binance Was KICKED OUT!

Contents

Japanese crypto exchange Liquid massively ...

Japanese cryptocurrency exchange Liquid massively distributes anonymous coins
CONTENT

  • Japanese crypto exchange Liquid excludes private coins from listing to obtain a license

  • The developers of the ZCash project believe that Liquid is reinsured

  • The exchange promises to return some of the coins if they agree with the regulator

International consortium of news organizations, developing transparency standards.

Japanese cryptocurrency exchange Liquid excludes 28 coins and tokens from listing, including Monero (XMR), Zcash (ZEC), Stellar (XLM) in preparation for obtaining Singapore license.

Zcash developers are perplexed

The Electric Coin Company (ECC), which supports the development of the privacy-focused coin Zcash (ZEC), announced that the Japanese cryptocurrency exchange Liquid is going to remove the ZEC coin from the listing, as well as twenty-eight other digital currencies and tokens. The exchange is thus preparing to apply for a license in Singapore.

The ECC commented on this news on their twitter:

“We believe that Liquid is reinsuring to get a license as soon as possible. Zcash coin absolutely fully meets all the requirements of regulators, including Singaporean ones, to counter money laundering (AML) and terrorist financing (CFT) “.

The team noted that no other exchange is taking such steps, at least they do not know anything about it.

The Zcash developers emphasized that they are always ready to cooperate with exchanges and clarify how the coin works and how it fits into regulatory concepts and requirements for AML / CFT compliance. If the question is only in obtaining a license, it is possible that Liquid will return Zcash when it receives regulatory approval.

Over 99% of transactions on the ZCash network are traceable, according to a Carnegie Mellon University study published earlier this year..

Liquid confirmed everything

Exchange representatives confirmed their intention to become an authorized and licensed cryptocurrency exchange services provider in Singapore.

Japanese crypto exchange Liquid massively ...

In order to obtain a license, the company strives to adhere to the guidelines and requirements set out in the Singapore Payment Services Law.

“Due to the tightening of requirements formulated by the Singapore regulator, we are forced to stop supporting some tokens,” the exchange representatives said. We are in talks on some of them and may return them to listing in the near future. “.

The list of disgraced tokens includes such famous coins as NEO, Monero (XMR) and Stellar (XLM). The full list of tokens excluded from the listing can be found at the link on the official website of the exchange.

It is worth noting that Liquid is one of the few exchanges that is serious about operating in full compliance with regulatory requirements..

Japanese crypto exchange Liquid massively ...

Binance, for example, has received quite a few warnings from regulators in Malta, Malaysia, Brazil and other jurisdictions for operating without a license and permission, but nevertheless, this does not stop it..

Anonymous and privacy-focused coins have long been the target of regulators who fear they will be used to finance illegal activities or to launder money..

Japanese crypto exchange Liquid massively ...

These concerns are easy to understand: the movements of such coins are more difficult to track, which is why attackers, hackers and ransomware often demand Monero (XMR) as a ransom..

Many also classify Dash (DASH) as anonymous coins, but the developers of the project argue that this is actually not the case..

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