Due to heightened compliance requirements set by Singaporean regulations, 29 cryptocurrencies have been delisted on Liquid
In compliance with cryptocurrency regulations in Singapore, a major Japanese cryptocurrency exchange, Liquid, has delisted 29 cryptocurrencies, including ZCash, Neo, Stellar (XLM). Singapore has been strengthening cryptocurrency regulation according to the standards set by the Financial Action Task Force (FATF).
Singapore has been working on implementing stricter rules on crypto exchanges to comply with the FATF standards. The Monetary Authority of Singapore issued a consultation paper on July 21 describing enhanced standards of the AML / CFT requirements for virtual asset service providers (VASPs).
Liquid has delisted 29 cryptocurrencies to comply with the crypto regulation in Singapore
Liquid announced last week as follows:
“Due to heightened compliance requirements set by Singaporean regulations, some listed tokens cannot continue to trade on Liquid and will be taken off the markets.”
As such, the list of 29 cryptocurrencies being delisted includes SNX, MITH, DRG, WLO, STORJ, WIN, VUU, XNK, PPL, ENJ, AMLT, DENT, FSN, GEN, LND, MITX, SPHT, BRC, XMR, NEO, IPSX, ADH, ZEC, IHF, PMA, XLM, QAX, and HYDRO.
Until now, Liquid has suspended trading services and deposits for some of these cryptocurrencies. However, customers can still withdraw until the latest notice. However, the exchange noted that some of these tokens are being negotiated with regulators and may be listed again shortly.
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