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Korean Crypto Exchanges Flag Litecoin After Privacy-Focused Update

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Two of Korea’s biggest cryptocurrency exchanges have investment warnings against Litecoin after a recent privacy-focused upgrade on the blockchain.

Source: CoinTelegraph

LTC is up 2.38%, while BTC is up 2.22%.

In similar warnings, Bithumb and Upbit cited that Litecoin’s utilization of privacy-focused Mimblewimble would enable users to transact confidentially and allow them to send tokens without the disclosure of transaction data.

The exchanges noted that Korea had enacted a law on the reporting and use of specific financial transaction information, which mandates cryptocurrency exchanges to implement know your customer and anti-money laundering rules.

The latest upgrade has been highly anticipated, including performance improvements and the compression of unnecessary transaction data, providing guarded information on the Litecoin blockchain.

Exchanges in Korea have earlier delisted cryptocurrencies following the release of similar warnings.

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