Posted 2 years ago | by Ben Armstrong
Zcash Removal from Coinbase
Zcash is getting removed from Coinbase in the United Kingdom. An email obtained this morning by BitBoy Crypto from a U.K. Coinbase user indicates that users will no longer be able to carry a balance of Zcash in their accounts.
U.K. Coinbase customers have until Monday, August 26th to either remove the Zcash from their exchange wallet or convert it to a different cryptocurrency. If you do not take one of those options, a user's Zcash will be automatically liquidated into GBP.
Coinbase has pledged to send reminders to Zcash holders over the coming weeks. However, a 17 day notice does not seem like very much time. The swift Zcash removal from Coinbase could be tied to a report this week that the U.K. tax authority had been asking exchanges, including Coinbase, for customer info and transactions.
Regulators must be breathing down Coinbase's neck for this to be so sudden. This is especially surprising because Zcash was recently featured as part of the Coinbase Earn program.
Here is a screenshot of the email from Coinbase:
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