Litecoin will be delisted on Bithumb and Upbit, two South Korean Crypto exchanges, over modifications made to the coin that enable greater privacy when conducting transactions.
In their notices regarding Litecoin, Bithumb and Upbit stated they were shutting down market support for the 20th-largest cryptocurrency by market capitalization because its newly activated Mimblewimble Extension Blocks (MWEB) network upgrade conflicts with South Korean anti-money laundering (AML) regulation.
Upbit pointed to an option in trading Litecoin that “enables users to not expose transaction information,” raising concerns that “anonymous transmission technology” will likely be added to the coin’s functionality.
Market support for Litecoin using Upbit will be shutting down on June 20 and users will be given a month after that to withdraw their funds from the exchange by July 20.
Bithumb is taking quicker action. In its delisting notice, the exchange emphasized its responsibility to “protect [its]...
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