The Japanese currency exchange, "Coincheck," recently decided to end trading on four digital currencies focusing on privacy: XMR, ZEC, DASH and REP, according to Cointelegraph Japan on May 18.
After reports from March, the bourse officially confirmed that the elimination of the four currencies that focus on concealment will come into effect on June 18. According to the Coincheck’s blog, the stock exchange will remove the four digital currencies for compliance with CFT and anti-money laundering measures (AML) recently issued by the Japanese financial regulator, the Financial Services Agency (FSA).
The FSA was particularly active in regulating local digital currency exchanges, specifically about customer protection, since Coincheck lost $532 mln in NEM in a major hack in January of this year.
As part of its efforts, the Financial Services Agency said that officially listed domestic exchanges would face restrictions on the circulation of alternative currencies that focus on privacy, as it is difficult to track more than digital currencies such as Bitcoin (BTC).
As the official statement issued on Friday by the bourse said, target digital currencies will be sold at market price and converted to the Japanese yen.
Earlier this week, Monex Inc, the company that recently acquired Coincheck, revealed plans to expand the stock market to the United States, claiming that the United States and Europe are more advanced than Japan in terms of regulatory clarity and "attracting institutional investors" to digital currency.