Upbit, one of the largest crypto exchanges in South Korea, has warned users it is delisting Litecoin on June 20.
According to the post, Upbit has asked the Litecoin Foundation for more information about the MimbleWimble protocol and conducted its own analysis. The company has said:
“It is determined that the update includes the choice of an option that allows users not to disclose information about transactions.”
According to Upbit representatives, this violates local laws. Until July 20, users can withdraw funds from the platform.
On May 20, the Litecoin mainnet activated a protocol with 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 combines many transactions into one.