OKX virtual currency exchange reported on November 23rd that it has resumed zcash (ZEC) spot trading. A reset that applies to the ZEC/USDT pair and marks a change from the previous platform decision.
OKX was scheduled to open on Nov. 24 at 8 p.m. Under the UTC+8 time zone. This time corresponds to 9:00 in Argentina, Chile, and Uruguay. 8:00 Venezuela. 7:00 in Colombia, Peru, and Mexico (CDMX); 10:00 in Brazil. and 2 p.m. In Spain.
The resumption of trading on the exchange is ZEC price fell by about 1.5% In the past 24 hours, it is currently trading in the $560 area. This suggests that the market is not currently interpreting OKX’s decision as an immediate boost to asset values.
Return to OKX after 2 years
As reported by CriptoNoticias, the exchange withdrew the offer. Three privacy-oriented cryptocurrencies (Monero, zcash, dash). happened at the end of december In 2023.
The decision was justified with the argument that these trading pairs “do not meet our inclusion criteria,” although the company did not provide details on the exact reason.
They made it clear at the time that decisions to remove or suspend assets “may arise from a variety of circumstances.” Contains elements beyond OKX».
In reality, the phrase is a diplomatic way exchanges use to refer to external regulatory pressures, demands for regulatory compliance (such as traceability rules), and the need to avoid legal risks and sanctions.
Many of these regulations require precisely identifying those operating on exchanges and tracking the source of funds. This kind of requirement focuses especially on cryptocurrencies Designed to provide a higher level of confidentiality Trading in progress. This is exactly the case with zcash, monero, and dash.
In practice, this gives these assets priority over regulation. may limit your presence on a centralized platform.
OKX also did not say why ZEC returned to spot trading on its platform, but it has recently seen increased interest from investors, pushing up the price in recent weeks. It may have been a factor That works in favor of cryptocurrencies.
(Translate tag) Exchange (Exchange)
