Cryptocurrency exchange platform, Coinbase, is set to delist privacy oriented crypto Zcash (ZEC) for its <a href="https://www.cryptoknowmics.com/crypto/uks-crypto-industry-receives-cryptoassets-guidance/">UK customers.</a>

According to <a href="https://bitboycrypto.com/wp-content/uploads/2019/08/Screen-Shot-2019-08-09-at-11.21.42-AM-955x1024.png">an email</a> which has gone viral in social media, from august 26 onward Coinbase users will not be able to hold Zcash balance. As a result, they will have to withdraw the ZEC tokens, exchange them to other crypto or even to fiat.

Moreover, Coinbase will liquidate tokens into the GBP wallets of users  who don’t opt for any of the three options.

Importantly, the Singapore based exchange has not specified the reason behind the sudden delisting of Zcash. As per reports, customers outside the United Kingdom will not be affected. The firm behind Zcash, Electric Coin Company, posted <a href="https://twitter.com/ElectricCoinCo/status/1159877202470735873?s=20">a tweet</a> saying that residents of UK can still buy and sell ZEC tokens using CEX.IO.

The news of the sudden removal of Zcash from the exchange has prompted a lot of concerns by users on twitter. Importantly, ZEC is a private digital coin that masks a user’s address at their discretion. Users were concerned that Coinbase was adamant to comply with UK’s KYC/AML requirements; but that doesn’t seem to be the case. There are suggestions from the exchange that the sudden delisting may be due to other challenges with the authorities.
<h2><strong>In conclusion</strong></h2>
It should be noted, that ZEC was listed by the exchange back in December 2018. However, ZEC support was not added for the UK’S and New York's jurisdictions. Similarly, there was no explanation. This shows that it’s not the first time ZEC is facing regulatory hurdles. More importantly, the U.S department of Homeland Security has listed Zcash as one of the cryptocurrencies it is looking forward to examine. The reason behind this is to check for illegal transactions.

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Coinbase Dropping Support For Zcash Customers In UK

Cryptocurrency exchange platform, Coinbase, is set to delist privacy oriented crypto Zcash (ZEC) for its UK customers.According to an.....%

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Coinbase Dropping Support For Zcash Customers In UK

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