![]() ![]() The Specific Financial Act is one of them. South Korea follows one of the most stringent crypto regulations in the world. Upbit, along with other major exchange platforms, issued a warning for their platform’s investors in May last week, advising them about the regulatory risks involved with confidential transactions. “We decided to terminate the transaction support for Litecoin, 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,” stated Upbit in their official report.įive major crypto exchanges in South Korea, including Upbit, Coinone, Gopax, Korbit, and Bithumb, have delisted Litecoin(LTC) from their platforms, as reported by 8BTC. Upbit has given its users 30 days to withdraw their LTC funds. After an exhaustive review, the exchange decided to end support for LTC. To understand the new upgrade and its key features, the exchange platform reached out to the Litecoin Foundation. The upgrade was released earlier this year, approximately two years after the first proposal. ![]() The coin was delisted after the anticipated MWEB upgrade, which made LTC transactions private and concealed many of its key identifiers. Upbit stated that the prohibition of anonymous transactions under the Act on the Reporting and Use of Specific Financial Transaction Information was the key reason for ending support for Litecoin. ![]() South Korean exchanges have flagged Litecoin’s recent privacy-focused upgrade, MimbleWimble (MWEB) upgrade and delisted Litecoin citing non-compliance under the Specific Financial Information Act. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |