Coinbase removing Zcash support for UK customers

An email sent by Coinbase last Friday has informed U.K. users that they will no longer be able to hold Zcash ($ZEC) on the exchange starting August 26. The move comes following a notice from the Her Majesty's Revenue and Customs (HMRC), the British tax agency, demanding customer and transaction from exchanges operating in the country. As news of the changes got out Zcash developer the Electric Coin Company tweeted that Zcash is “100% compatible" with U.K. regulations as well as know-your-customer (KYC)/ anti-money laundering (AML) requirements.