OKEx Korea delisting all privacy coins

[Oister]

OKEx Korea delisting all privacy coins, including Monero, Zcash and Dash, as these ‘violate’ FATF’s 'travel rule'

Cryptocurrency exchange OKEx’s Korea unit is delisting all five privacy coins - monero (XMR), dash (DASH), zcash (ZEC), horizen (ZEN) and super bitcoin (SBTC).

The transaction support for the five coins will end on Oct. 10, while withdrawal services will stop on Dec. 10, OKEx Korea announced Monday. The exchange said the decision has been taken as these coins “violate” the Financial Action Task Force (FATF’s) "travel rule."

I've heard the same about Upbit, Kraken and the number of other exchanges. So please HELP! What should I choose in order to feel safe??

 

[JAck745]

We are in an era when freedom of expression and human rights are no longer respected.

 

[JAck745]

Privacy coins may be delisted from some exchanges controlled by govs. But nobody can ban or switch off cryptocurrency.

 

[Oister]

We have to remember about different mentality of people. Some will hear about ban and will simply refuse the certain coins, some will be afraid to use no kyc decentralized platforms as they're mass associated to illegal things. So this ban will cause big changes on the market for sure.

 

[JAck745]

As you know, so many men, so many minds, I will not impose my own. But I think everybody definitely has a right to privacy no matter what. Those who really need privacy will still find a way to buy privacy coins.

 

[Oister]

Exactly. I repeat it again and again, but still there are those who don't understand such an easy thing. Decentralization and blockchain will save us all in this thing.

 

[JAck745]

Freedom of choice and censorship are two concepts that people have always been debating. I think, for the DeFi and blockchain to be used widely and wisely, there must be projects that will prove their worth.

 

[Oister]

Seems like they're getting stuck as govt does everything in order to ban all such things associating it to illegal things. People are getting afraid and try to avoid it. But it's the only thing that can provide real online privacy.

 

[JAck745]

There is indeed. People don’t understand the massive changes which are coming to the world right now. I think if you use decentralized systems, it makes no sense to be afraid of some kind of prohibition and sanction.

 

[Oister]

At the same time people are afraid of decentralization. For some reason it's associated to illegal actions, as well as privacy coins. But it's not my problem. I choose the freedom, anonymity and privacy.

 

[JAck745]

Perhaps people need more time to come to decentralization. There's no question that DeFi holds many advantages over CeFi. It's one of the biggest reasons why cryptocurrency has gotten popular in the first place.

 

[Oister]

It's not about cryptocurrency on the whole, I think it's more about privacy coins. But I still see statements like privacy = illegal, scam, criminal. Until it's like that, it won't show its best.

 

[JAck745]

Their concerns are very reasonable, I get it, it makes sense. I don’t think we should be too quick to trust so called privacy coins until they’ve stood the test of time.

 

[Oister]

It should be dedicated to all cryptocurrency. Okay, one can choose Bitcoin, Ethereum, USDT, some other top coins. But choosing between no names, it always needs a detailed research before investments.

 

[Oister]

What's up with other crypto? As Bitcoin already reached $23k is it possible to see a positive movement of others too? Btw, which coins do you support? As I have Bitcoin holdings and some Monero as I really appreciate the idea of privacy coins.

 

[OpenCEX]

Hasn’t this branch of the crypto exchange closed down? I remember a news from March 2021 that said:

• OKEx Korea crypto exchange to shut down as new reporting laws take effect (Cointelegraph)
• Crypto Exchange OKEx Korea to Close as New AML Rules Come Into Force (Coindesk)

 

[JAck745]

A web proxy in conjunction with a browser is a great tool. I like that now it is not necessary to use a VPN, but you can quickly and easily access blocked sites.