All five of South Korea’s licensed, fiat-trading crypto exchanges have announced they will delist litecoin (LTC) after developers rolled out the Mimblewimble Extension Block protocol.
The five exchanges – Upbit, Bithumb, Coinone, Korbit, and Gopax – all made their LTC delisting announcements “all at once,” News1 reported. This represents a first for the South Korean crypto industry.
In Upbit’s announcement, which was similarly worded to those of its rivals, the exchange explained that transaction support would end on June 20, with withdrawals allowed until July 20. In the past 24 hours, Upbit was responsible for around 11% of LTC trading volume (USD 55m), per CoinGecko data.
As a result, News1 noted, domestic litecoin trading in fiat KRW will essentially be “blocked” within days. Even exchanges that do not yet KRW market operating permits – such as Foblegate and Coredax – have placed special warning notices on their litecoin trading pages. The same media outlet stated that these...
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