Coinbase to remove Zcash support for UK users

Monday 12 August 2019 00:16 CET | News

Cryptocurrency exchange Coinbase has announced it is removing the support for privacy cryptocurrency Zcash (ZEC) for its UK customers.

From 26 August 2019 onwards, Coinbase’s UK customers will not be able to hold a Zcash balance anymore. The customers in the country will either have to convert Zcash into any other cryptocurrency or will have to move it to any other exchange or a hardware wallet. If users do not opt for either option by the mentioned date, Coinbase will automatically liquidate Zcash balances into customers’ GBP wallets.

Electric Coin Company, which is the company behind Zcash, mentioned that UK residents can still buy and sell Zcash through cryptocurrency exchange CEX.IO, as no other exchanges in the UK are affected. The company mentioned that Zcash is 100% compatible with UK regulations and KYC/AML requirements.

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Keywords: Coinbase, cryptocurrency, exchange, ZCash, UK, AML, KYC, hardware wallet, regulations
Countries: World

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