Five South Korean crypto exchanges have delisted Litecoin after users adopted the MimbleWimble upgrade.
Korean crypto exchanges Upbit and Bithumb announced in public notices to users that they will drop Litecoin . Upbit will stop trading pairs with Litecoin on June 20th and give users one month from then to withdraw the asset. Bithumb has already stopped accepting LTC deposits as of June 8th. Furthermore, the exchange is giving users until July 25th to withdraw LTC funds.The companies say the MimbleWimble Extension Blocks upgrade does not comply with South Korean AML regulations.
The delisting announcements from each company were similar. South Korean regulatory authorities have made warnings about MWEB since before its release, so this comes as no surprise. Additionally, privacy coins Monero and Zcash have already been removed in the Asian country. Reportedly, though, Litecoin’s delisting is a matter of collective industry action to satisfy the government. Lawmakers summoned the five exchanges to explain their lack of coordination to delist Terra Luna. Litecoin is the first crypto the resulting joint delisting committee has actioned.for some time. In addition to performance upgrades to strengthen its value proposition as a faster, lower-fee Bitcoin option, it protects privacy.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance warns against use of litecoin's Mimblewimble privacy featureThe crypto exchange won't accept litecoin transactions using MimbleWimble Extension Blocks (MWEB).
Read more »
Notice on Deposits and Withdrawals of Litecoin (LTC) Utilizing MimbleWimble Extension Blocks (MWEB) | Binance SupportFellow Binancians, Binance will not support the deposits and withdrawals of Litecoin (LTC) that utilize the MimbleWimble Extension Blocks (MWEB) function, which provides users with an option of...
Read more »
Report: Five South Korean Crypto Exchanges Respond to Litecoin MWEB Upgrade by Delisting the Coin – Exchanges Bitcoin NewsThe exchanges argue that the upgrade has made litecoin transactions anonymous which is against the country’s laws. cryptocurrency litecoin
Read more »
Central authorities have demonized privacy — Crypto projects must fight backThe conversation around privacy has come under intense scrutiny, and crypto industry is losing the battle. It must step up and educate people on the benefits of privacy, argues treyditto
Read more »
Canada’s Predictive Policing Tech Is Poorly Regulated Under AI PolicyIn February 2019, Nijeer Parks was arrested based on a facial recognition match that linked him to several crimes. Months later, the case against him was dismissed—there was no evidence of him committing a crime besides a faulty facial recognition match.
Read more »
Opinion | January 6 Hearings: Examining the Election Sabotage and Ongoing Damage to Democracy'Legislation is necessary to protect our democratic system and stop future attacks.'
Read more »