Crypto News Like Desk : Important information has come to light regarding Litecoin (LTC), a cryptocurrency of the crypto market battling uncertainties. Korean crypto exchanges Upbit and Bithumb have asked their users to drop Litecoin from their platform. According to the information, Upbit will stop trading pairs with Litecoin on June 20. After this, users will be given one month to get back their assets.
At the same time, Bithumb has stopped accepting Litecoin deposits from 8 June. The exchange is giving its users until July 25 to withdraw their Litecoin funds. According to the report of cryptopotato , the reason behind this decision is most of the platforms only one. Indeed, Litecoin has been promoting new privacy features as part of the MimbleWimble extension block upgrade for some time now. It is claimed that it protects the privacy of the users. Users have started adopting this upgrade. The companies say that Litecoin's MimbleWimble extension block upgrade does not comply with South Korean AML (Anti-Money Laundering) regulations. In addition to Upbit and Bithumb, Coinone, Korbit and GoPax have also decided that they will be distilling Litecoin. These five platforms have announced the delisting at the same time.
It is worth noting that the regulatory authorities of South Korea had warned about this in advance of the release of the MimbleWimble extension block upgrade. This is a privacy upgrade brought to Litecoin. Even before this, coins that brought such upgrades such as Monero (XMR) and Zcash (ZEC) have been delisted from Asian countries.
The industry is said to have tried to satisfy the government by delisting Litecoin. This is the first coin that the five exchanges worked together to delist. Earlier, response was sought from these exchanges in view of the lack of coordination in delisting Terra Luna. Let's talk about the current price of Litecoin, then data from Coinmarketcap It states that its total market cap has reached $3 billion. At one time its value was up to $ 80, which is now around $ 45 after the fall in the crypto market. In November last year, it touched a peak of $ 260, according to that it has lost 83 percent.
