The popular cryptocurrency platform ShapeShift quietly removed the privacy-focused cryptocurrencies XMR, ZEC and DASH.
US-based cryptocurrency trading platform ShapeShift has removed all privacy-focused cryptocurrencies Zcash (ZEC), Monero (XMR) and Dash (DASH).
Veronica McGregor, ShapeShift’s chief legal counsel, told CoinDesk that these cryptocurrencies were removed due to regulatory concerns and said, “At least we are not working with these coins for now.” said.
The official also stressed that all three cryptocurrencies were removed from the list for the same reason: To reduce risk in terms of regulations.
ShapeShift has been listing Zcash for a long time. ShapeShift, an investor of Electric Coin Company, the founder of this cryptocurrency, has been listing Zcash since 2016.
ShapeShift is also a platform that allows trading cryptocurrencies without any authentication until 2018. Founded in 2014, the company started asking for identity verification in 2018 after working in this way for more than 4 years. The platform has been under scrutiny after the Wall Street Journal claimed it was widely used for money laundering last year.
Privacy-oriented cryptocurrencies have been under increasing pressure recently. The South Korean government has also asked the stock exchanges operating in the country to exclude privacy-focused cryptocurrencies this year.