The South Korean cryptocurrency marketplace OKEx Korea will exclude all privacy=oriented cryptocurrencies from its listing, including Monero, Zcash and Dash.

The South Korean division of the OKEx crypto exchange will delist five coins with high-level privacy, Monero (XMR), Dash (DASH), Zcash (ZEC), Horizen (ZEN) and Super Bitcoin (SBTC). The trading platform will stop supporting transactions in these coins on 10 October, while customers will be able to withdraw their assets until 10 December 2019.

According to the cryptocurrency exchange, the decision is caused by the fact that these cryptocurrencies violate international standards on the collection of user identification data prescribed by the FATF Task Force on the Development of Financial Measures to Combat Money Laundering (FATF). As OKEx Korea notes, the cryptocurrency exchange reserves the right to delist coins "if the support of transactions in a particular cryptocurrency violates laws or regulations/policies of government agencies and major agencies."

In June, the FATF published guidelines virtual assets service operators. According to these guidelines, services that work with virtual assets must comply with the so-called “travel rule” that requires collection and transmission of customer information when performing transactions in cryptocurrencies. Financial institutions must be able to collect relevant information about the sender's and recipient's name, their account numbers and state of residence.

OKEx Korea notes that the above cryptocurrencies do not allow collecting such information, therefore the cryptocurrency exchange forcibly ceases to support these coins.

It is not yet clear whether the decision will affect only the South Korean division or whether it will be applied on other OKEx trading floors.