One of the leading South Korean exchanges, Upbit yesterday September 20, 2019, announced that it will stop the trading of about 6 cryptocurrencies, with five of them being privacy coins.

The exchange made this announcement via their official social media handle and according to the report, these coins will cease to be traded on their platform.

• Monero (XMR)
• Dash (DASH)
• Zcash (ZEC)
• Haven (XHV)
• BitTube (TUBE)
• PIVX

Upbit further revealed that it will no longer support deposit in these coins mentioned above and that transaction requests that have not been confirmed will not go through.

OKEx Exchange Set The Pace

This announcement is coming after leading crypto exchange OKEx removed support for about five cryptocurrencies based on international regulations.

The reason for this announcement is based on the fact that these privacy coins can be used to carry out fraudulent transactions. With this announcement by Upbit, other cryptocurrency exchanges are to follow suit.