Litecoin is threatened with withdrawal from the South Korean exchanges

by in Cryptocurrency News


The update of MimbleWimble on the Litecoin (LTC) network allows you to ensure the confidentiality of transactions.

However, the anonymity of LTC blockchain users has raised concerns among South Korean cryptocurrency exchanges. As part of compliance with local anti-money laundering legislation, trading platforms may delist Litecoin.

At the moment, LTC is in 18th place in the ranking of the largest digital currencies according to the CoinMarketCap website.

The LTC rate starts the new week with a strengthening, the coin on the night of Tuesday, May 24, bounced to $72.57. The capitalization of Litecoin is just over $5.1 billion.

Trending: MetaMask announces integration with Apple Pay

Korean exchange UpBit has stated that it will not accept anonymous Litecoin transactions through MimbleWimble. If such a need arises, then the platform may even delist the altcoin.

A similar statement was made by the Bithumb exchange. Other leading Korean exchanges Korbit and Coinone have not yet published any official comments in connection with the update of the Litecoin network, which took place on May 20.

It should be noted that the largest Korean platforms stopped processing transactions with private altcoins Monero, Dash, and ZCash back in 2019.