9 Jun 2022
Litecoin delisted on Major South Korean Crypto Exchanges
The Index Today
Major cryptocurrency exchanges in South Korea decided to delist Litecoin (LTC) weeks after flagging its privacy-focused MimbleWimble (MWEB) upgrade. Exchange users have been given of 30 days to withdraw their LTC funds.
In a public announcement on Wednesday, Upbit mentioned that the Act on the Reporting and Use of Specific Financial Transaction Information, which prohibits anonymous transactions as the key reason for ending support for LTC.
Upbit in its official report said, “We decided to terminate the transaction support for Litecoin (LTC), as it was determined that the optional function that does not expose transaction information included in this network upgrade corresponds to an anonymous transmission technology under the Specific Financial Information Act.”