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Tokyo-based Coincheck to Delist Monero, Zcash and Dash

keyboard with blue delisting key

Following a $530 million hack earlier this year and the subsequent purchase by brokerage firm Monex, Tokyo-based cryptocurrency exchange Coincheck will be delisting certain coins it deems unsafe due to their less-traceable nature.

The decision comes as part of a new management strategy and a review of their control system intended to better protect customers. The firm stated that the move was necessary in order to comply with anti-money laundering regulations.

The exchanges license with Japan’s Financial Services Agency was pending at the time of January’s hack and it’s believed the decision to delist these coins will facilitate improving their status.

Customers with existing coins will have until June 18th to sell or move any remaining currency.  Anything remaining after that will be converted to Yen and credited to the customer’s account.

There are currently sixteen crypto exchanges licensed in Japan and none feature Monero, Zcash or Dash in their applications.

Image From Shutterstock

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