Coinbase UK has decided to remove support for the privacy-based cryptocurrency Zcash (ZEC).


  • The U.K. arm of Coinbase appears to be removing their support for the privacy-focused cryptocurrency Zcash.
  • Zcash support is only removed for UK customers only and does not appear to affect other countries. 

 

Customers of the exchange, Coinbase UK have been receiving letters warning people that they will need to convert their zcash (ZEC) holdings, or remove them to an external wallet, by Aug. 26.

The cryptocurrency exchange gave no specific reason for the removal of the cryptocurrency, but said all remaining ZEC balances on Aug. 26 will be automatically converted to British pounds in users accounts.

The Electric Coin Company, the developer of Zcash, appeared to confirm the news, saying in a tweet on Friday:

 

Those affected by Coinbase UK issues: this is limited to Coinbase UK only. UK residents can still buy/sell Zcash through CEO.io. No other exchanges in the UK affected.

It further said:

To pre-empt speculation, we confirm that Zcash is 100 percent compatible with UK regulations & KYC/AML requirements.

 

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Cryptos feed

Latest Crypto News


Latest Crypto News & Analysis

Editors’ Picks

BTC/USD is on the verge of a massive rally, on-chain data implies

Bitcoin's address activity has reached 1.07 million, which is the highest level since January 2018, according to the cryptocurrency data provider Santimnet.

More Bitcoin News

EOS /USD enters bullish phase, gains 2% in a matter of minutes

EOS/USD catapulted to $2.44 having gained over 2% of its value in a matter of minutes. By the time of writing, the coin retreated to $2.40; however, it is still nearly 2% since the start of the day and 1.45% higher on a day-to-day basis.

More EOS News

XRP/USD attempts a recovery, still within the range

Ripple (XRP) has been trading in a tight range since the end of June. At the time of writing, the coin is changing hands at $0.1770, having gained over 1% since the beginning of the day. 

More Ripple News

ADA/USD drops down following a heavily bullish Wednesday

ADA/USD bears dropped the price down from $0.0976 to $0.0945 this Thursday. This followed a heavily bullish Wednesday, wherein the price flew up from $0.0833, climbing above the 20D Bollinger Band.

More Cardano News

BEST CRYPTO BROKERS/EXCHANGES

Bitcoin Weekly Forecast: BTC volatility drops to a year low, get ready for a spiral drive

The week was tough for the cryptocurrency markets confined to tight ranges. Bitcoin has lost 1% of its value during the recent seven days with the trading range limited by $9,298 on the upside and $8,933 on the downside.

Read the weekly forecast

BTC

ETH

XRP