FATF guidelines push UPBit to issue investment warning for 6 privacy assets

UPBit, a South Korean digital asset exchange, issued a "investment warning designation" notice to it's customers on Monday for 6 privacy-focused cryptocurrencies: Monero ($XMR), Dash ($DASH), Zcash ($ZEC), Haven Protcol ($XHV), BeatTube ($TUBE), and PIVX ($PIVX). Part of the notice explaining the designation, as translated by Messari, reads:

"Apart from the institutionalization discussions, in respect of the FATF's agreement that crypto assets should not be used for money laundering or illegal purposes, UPBit has decided to designate privacy coins which is difficult to identify the sender and recipient as investment warning."