Cryptocurrency exchanges in South Korea have delisted Litecoin weeks after flagging its privacy focused MimbleWimble upgrade.
In a public announcement Upbit cited the Act on the Reporting and Use of Specific Financial Transaction Information, which forbids anonymous transactions as the key reason for ending support for LTC.
The delisting comes in the light of the much-awaited MWEB upgrade that made LTC transactions private, hiding some of the key identifiers. The upgrade was released earlier this year, nearly two years after its first proposal.
The crypto exchange reached out to the Litecoin Foundation to understand the privacy focused upgrade, and after a thorough review, the exchange decided to end support for LTC transactions.
According to a report from the 8BTC, five major crypto exchanges which are Upbit, Bithumb, Coinone, Korbit and Gopax have now delisted LTC from their platform.
Upbit and other major crypto exchanges have issued a warning for investors in May, advising them about the regulatory risks associated with confidential transactions.
