Following Monero (XMR) and Dash (DASH), the instant cryptocurrency exchange ShapeShift has stopped supporting Zcash (ZEC). The company attributed this decision to potential regulatory concerns.<\/p>\n
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\n“We are shielding the company from regulatory risks, so at the moment we are not working with these coins,” said ShapeShift’s chief legal officer Veronica McGregor in comments to CoinDesk <\/a> ShapeShift’s chief legal officer Veronica McGregor.<\/p>\n<\/blockquote>\n
ShapeShift is one of the investors in Electric Coin Company, which backs the development of Zcash, and shortly after the 2016 mainnet launch added support for the coin.<\/p>\n
That ShapeShift conducted<\/a> a delisting of XMR and DASH without prior notice to users was revealed last week.<\/p>\n
An open question remains as to how closely the company’s stance aligns with the views of U.S. regulators. The Department of Homeland Security and the IRS have contracted<\/a> with analytics firms to help track XMR transactions.<\/p>\n
Coinbase previously refused to list Monero over potential regulatory concerns. Zcash and Dash are available on Binance.US and Kraken, and Gemini has allowed<\/a> users to withdraw Zcash to shielded addresses.<\/p>\n
In 2015, ShapeShift refused to accommodate regulators and completely ceased servicing residents of New York and Washington. In 2018, the company introduced a mandatory registration in the form of a membership program that drew criticism.<\/p>\n
\nEnd of an era: the Bitcoin community harshly criticized ShapeShift’s new rules<\/p>\n<\/blockquote>\n