Korea’s cryptocurrency holding a large part of the trade volume cryptocurrency exchanges Bithumb and Upbit, Litecoin issued a warning about its operations.
Litecoin on May 20 crypto currency transactions Litecoin, an update that allows private Mimblewimble Announced that the update is officially done.
After these updates, investors Litecoin (LTC) investment warnings have been given.
Bithump made the following statements in his post:
“Litecoin’s Mimblewimble update adds privacy to the network. This update adds confidential transaction capability to the Litecoin blockchain, allowing users to send tokens while hiding transaction information.”
Bithump and Upbit published their posts on crypto currency exchanges. know your customer-KYC and money laundering prevention-AML attention to the implementation of the measures.
In the statement made by the exchanges, it was stated that they kept their distance from privacy coins due to obligations such as preventing money laundering and terrorist financing.
In the statement, it was stated that they noted the latest update in Litecoin as a “major issue”, referring to some legal obligations.
Exchanges announced that no deposit has been made using this technology yet, but if it is, they will not support it.
Apart from Bithump and Upbit, Korea’s other Korean exchange Korbit and Coinone have not yet made a statement on this issue.