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October 21, 2019 at 2:52 pm #905barryGuest
The British branch of the Coinbase stock exchange is slowly giving up its support for the cryptocurrency Zcash and removing it from its offer.
Zcash begins to disappear from the British Isles
Coinbase customers in the UK have been notified by the stock exchange that they will need to exchange their Zcash Coins (ZEC) for another crypto currency. A possible way out of this situation is to transfer funds to an external wallet… The reason for the change was not stated. The only thing we know is that as of August 26, all the funds stored in this cryptocurrency will be converted into British pounds. Electric Coin Company, which created Zcash, confirmed the information by post on Twitter: To @coinbase UK customers: these problems concern only the Coinbase branch in the UK. Investors there can still buy and sell Zcash on CEX.IO. To prevent speculation, we assure you that our cryptocurrency does not violate any laws or requirements of KYC or AML in the UK. The UK Financial Conduct Authority’s guidance issued at the end of July states that certain digital currencies may be exempt from use. As you can see, the same thing is happening with Zcash. But ‘interchangeable tokens’ such as Bitcoin and Ether will certainly not give in to such a process. HM Revenue & Customs, a UK-based tax agency, has recently requested that crypto-currency exchanges, including Coinbase, eToro and CEX.IO, disclose customer data. These are to be not only names, but also histories of transactions carried out. The aim is to collect outstanding taxes.
Zcash (ZEC) offers users the ability to hide their transactions using the zero-knowledge proof, called zk-SNARKs.October 21, 2019 at 2:54 pm #906thisisbitGuest
And very well, I never believed in this currency and I wasn’t going to buy it. For me it doesn’t change anything anyway, and there may be room for a currency with a bigger potential like chillz or something like that!October 21, 2019 at 2:55 pm #907thisisbitGuest
Ah. What a pity. I had to transfer all my crypto to bitrex because I believe in zcash. The concept of this crypto seems to me very nice and I think that the project still has a chance to develop and be in the top ten on the coinmarketcap.October 21, 2019 at 2:57 pm #908654tomasGuest
For me, that crypt might not exist at all. Why would anyone need a crypt that does not bring any value to the user? It is better to invest in bitcoin and keep it as a long-term investment than to play with it.