UpBit delists a big crypto token!! (click to find out!!!)

Good day gang!!!  Please click on the post to read all about it!!

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Thanks for the click my friend! Now to the news, the South Korean exchange platform UpBit de-listed the Litecoin token,why? well simply because of regulations, LTC did an upgrade, called Mimble Wimble, that makes transactions private. Big no no for South Korean laws, so the exchange decided to terminate transactions with this token until June 20th. SK has a very strict set of regulations for tokens now and exchanges need to follow suit. The Specific Financial Information Act obligates the exchanges to enforce strict Know Your Customer (KYC) and Anti-money laundering (AML) policies and prohibition of anonymous transactions. Since LTC Foundation did not respond as to the why some of the “anonymous transmission technology” upgrade that prevented it from checking the transaction information, caused a major setback to the coin, since not only did UpBit  was the only one that removed support to LTC, also Bithumb, Coinone, Korbit, and Gopax will follow. YIKES!!! So set your bags to sell mode, cause many other exchanges due to their own countries regulations will probably do the same until a new upgrade on LTC removing the anonymity transaction for a better transparency will fix this,  question here is how long will the exchanges take to put LTC back on the list, crypto gods only know. Be well gang and DYOR! remember this is no financial advise whatsoever in any shape, type or form.

By Anisha Pandey

Source: 

https://www.cryptonary.com/upbit-to-delist-litecoin-amid-strict-regulatory-compliance/

Do you think this will affect the LTC price? Do you know about LTC? comment below

Your friendly cryptor, AndyHuerta.