Upbit will operate the so-called Dark Coin delisting such as Monero and Dash.
UPBIT announced on Sep 9th via their official website that “Monero (XMR), DASH, ZEC, Haven (XHV), Bittube (TUBE), and Pivex (PIVX), which have privacy characteristics,also well known as Dark Coins, will be designated as an important event and will end the provisional transaction support. ”
Upbit also mentioned that , “Upbit will be able to determine whether the final listing will be abolished through detailed review of the relevant cryptocurrency for one week after the designation of the relevant stock.”
The main reason why Upbit chose Dark Coin as a significant item is to comply with the international standards of the FATF.
The FATF International Standard, released in June, included the obligation that virtual asset handling agencies (VASPs), such as exchanges, collect and retain information about the remitter and recipients of virtual assets. The so-called Travel Rule.
Upbit said, “Independent of the discussion of institutionalization, in respect of FATF's agreement that cryptographic assets should not be used for money laundering or illegal purposes, Upbit has a gradual note on private cryptocurrencies that make it difficult to identify remitters and payees. We decided to take action to end the designation and transaction support. ”
An Upbit official explained that the delisting review "remarked about privacy-enhanced cryptocurrencies, (Exchanges) must prepare according to FATF international standards."