On 21st May, South Korea’s first and largest Bitcoin exchange platform, Korbit announced on its official website that the buying and selling functions for Dash [DASH], Monero [XMR], Zcash [ZEC], Augur [REP], and Steem [STEEM] is terminated.
As reported, this will happen through the gradual termination of the [Other Digital Assets] service. However, the customers can continue trading XRP, BCH, LTC, etc.
It further stated:
“We are going to improve it so that you can trade various assets more conveniently. However, since there is no fixed resume date for the coin, we recommend selling or withdrawing money for asset protection.”
According to the website, users will not be able to buy the coins from 3:00 PM on 28/05/2018 and selling will be terminated after 3:00 PM on 06/21/2018. The exact date for when the trading of these affected coins would be resumed was not reported.
Jamie Fosters, a Redditor said:
“Do you honestly expect governments to sit on their hands as privacy crypto currency revolutionizes world finance? Centralized exchanges are a choke point for now, and egged on by the banking system, governments will quietly squeeze all they can. Will it stop crypto? Oh yea. Maybe by tomorrow. Get real.”
Jedigras, another Redditor commented:
“looks like they are trying to get a japanese license.”
To this, Davey Jones replied:
“or their liquidity pool was coincheck … didn’t they just offer coinbase like service for most altcoins they had ? like you can buy or sell but at set prices … so liquidity was elsewhere ?”
This announcement seems to have affected the current price of the coins. DASH’s price has fallen by 0.47% and is currently trading at $392.25, ZEC is trading at $336.20 with a drop of 3.52%, XMR saw a fall of 1.73% priced at $196.48, STEEM fell by 3.37% and is trading at $2.93, and REP faced a drop of 3.07% in the past 24 hours and is trading at $51.93.