Report: Five South Korean Crypto Exchanges Respond to Litecoin MWEB Upgrade by Delisting the Coin – Exchanges Bitcoin News
The exchanges argue that the upgrade has made litecoin transactions anonymous which is against the country’s laws. cryptocurrency litecoin
As a result, the exchanges‘ users cannot use the Korean won to trade litecoin, which has since been named a ‘dark coin.’
Report: Five South Korean Crypto Exchanges Respond to Litecoin MWEB Upgrade by Delisting the CoinFive South Korean cryptocurrency exchanges recently said they will delist litecoin because the crypto asset’s Mimblewimble Extension Blocks (MWEB) upgrade violates the country’s laws. As a result, the exchanges’ users cannot use the Korean won to trade the crypto asset, which has since been named a “dark coin.”
Upgrade Violates Specific Financial Information ActFollowing the recent Mimblewimble Extension Blocks (MWEB) upgrade to litecoin, five of South Korea’s major cryptocurrency exchanges, namely Upbit, Bithumb, Coinone, Korbit, and Gopax, responded by announcing that they would delist the crypto asset. The exchanges argue that the upgrade has made litecoin transactions anonymous, which is against the country’s laws.
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1 hour ago Report: Five South Korean Crypto Exchanges Respond to Litecoin MWEB Upgrade by Delisting the Coin Five South Korean cryptocurrency exchanges recently said they will delist litecoin because the crypto asset’s Mimblewimble Extension Blocks (MWEB) upgrade violates the country’s laws. As a result, the exchanges’ users cannot use the Korean won to trade the crypto asset, which has since been named a “dark coin.” Upgrade Violates Specific Financial Information Act Following the recent Mimblewimble Extension Blocks (MWEB) upgrade to litecoin, five of South Korea’s major cryptocurrency exchanges, namely Upbit, Bithumb, Coinone, Korbit, and Gopax, responded by announcing that they would delist the crypto asset. The exchanges argue that the upgrade has made litecoin transactions anonymous, which is against the country’s laws. According to a News1 , the anonymity that was brought about by the Mimblewimble upgrade violates a provision in the Specific Financial Information Act which stipulates that cryptocurrency exchanges cannot handle crypto coins that hide transfer records. In a statement, Upbit reportedly said: According to the Special Act, exchanges must check whether the transmission records can be verified for digital assets with anonymous transmission technology, and take appropriate measures if anonymous transmission technology is found. In May, a statement from the Litecoin team said the “highly anticipated” MWEB upgrade had been activated. The statement explained that the upgrade “is a fungibility-improving technology that enhances confidentiality between the senders and receivers in a transaction.” The amount being sent is only known between the sender and receiver, the statement added. However, as a result of this upgrade that has seen
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