Upbit, one of South Korea’s largest crypto asset trading platforms, announced that they will delist Litecoin. Litecoin’s latest privacy update MimbleWimble support was cited as the reason for the deliberation. In the statement made by the platform, it was stated that the decision was taken under the country’s Private Financial Information Law. The law requires exchanges to transparently control transactions to prevent money laundering and extortion financing.
The exchange said in its blog post that it will stop Litecoin (LTC) transactions as of June 20.
As we have mentioned before, several leading South Korean exchanges along with Upbit issued warnings for investors after this update of Litecoin.
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