Overview

Click to expand overview
A crypto media outlet reported that two major crypto exchanges in South Korea just delisted Litecoin from their platform because of the upgrade to the network which increases transaction As of the 9 th of June, at least five crypto exchanges in South Korea have confirmed that they will be delisting Litecoin. Bithumb, Coinone, Upbit, Kobit, and Gopax have all asked users to According to a report by 8BTC, the top five South Korean crypto exchanges Upbit, Bithumb, Coinone, Korbit and Gopax have delisted LTC. Upbit and other major The delisting of Litecoin by South Korean exchanges underscores the delicate relationship between technological advancements and regulatory compliance. While MWEB offers clear All five of South Korea’s licensed, fiat-trading crypto exchanges have announced they will delist litecoin (LTC) after developers rolled out the Mimblewimble Earlier today, an array of prominent crypto exchanges in South Korea revealed that they would be delisting Litecoin. This list included Upbit, Bithumb, Coinone, Korbit as well as Gopax.

South Korean Exchanges Oust Litecoin: Here's Why

Why are South Korean crypto exchanges delisting Litecoin (LTC)? The recent Mimblewimble Extension Blocks (MWEB) upgrade, designed to enhance transaction privacy, has triggered a wave of delistings from major South Korean platforms. This article breaks down the reasons behind this significant decision.

Delisting Spree Across South Korea

Earlier today, an array of prominent crypto exchanges in South Korea revealed that they would be delisting Litecoin. This list included Upbit, Bithumb, Coinone, Korbit as well as Gopax. As of the 9th of June, at least five crypto exchanges in South Korea have confirmed that they will be delisting Litecoin.

A crypto media outlet reported that two major crypto exchanges in South Korea just delisted Litecoin from their platform because of the upgrade to the network which increases transaction privacy.

According to a report by 8BTC, the top five South Korean crypto exchanges Upbit, Bithumb, Coinone, Korbit and Gopax have delisted LTC. Upbit and other major exchanges are following suit.

The Mimblewimble Extension Block Controversy

All five of South Korea’s licensed, fiat-trading crypto exchanges have announced they will delist litecoin (LTC) after developers rolled out the Mimblewimble privacy feature. Bithumb, Coinone, Upbit, Kobit, and Gopax have all asked users to take action regarding their LTC holdings.

While MWEB offers clear benefits for user privacy, it also raises concerns regarding regulatory compliance in countries with strict anti-money laundering (AML) and know-your-customer (KYC) laws. The delisting of Litecoin by South Korean exchanges underscores the delicate relationship between technological advancements and regulatory compliance.

What This Means for Litecoin and Crypto Regulation

The decision by South Korean exchanges to delist Litecoin highlights the challenges faced by cryptocurrencies that prioritize user privacy. As regulatory scrutiny intensifies, exchanges may opt to delist coins with enhanced privacy features to ensure compliance and avoid potential penalties. This situation serves as a crucial case study for the broader crypto industry, emphasizing the need for ongoing dialogue between developers, regulators, and exchanges to navigate the evolving regulatory landscape.

Top Sources

Related Articles