Bitcoin exchange Upbit announced the delisting of Litecoin

One of the largest crypto exchanges in South Korea, Upbit, warned users about the delisting of Litecoin (LTC) on June 20, 2022of the year.

According to the post, Upbit asked the Litecoin Foundation for more information about the MimbleWimble protocol and conducted its own analysis.

“[…] it is determined that the update includes the choice of an option that allows users not to disclose information about transactions,” the company emphasized.

According to Upbit representatives, this violates local laws. Until July 20, users can withdraw funds from the platform.

On May 20, Litecoin mainnet activated the protocolwith wide scalability and increased privacy. It uses several technologies, including confidential transactions and CoinJoin, which hides the inputs and outputs of senders and receivers, and also combines many transactions into one.

After that, the possibility of delisting LTC was announcedat Bithumb. At the time of writing, the exchange has not announced that it will end support for the asset, however, 8BTC said the company has delisted the coin. A similar decision was allegedly made by Coinone, Korbit and Gopax.

Recall that at the end of May, Elliptic added tools for tracking transactions in the Litecoin blockchain to the platform after activating the MimbleWimble Extension Block.