The move comes after the activation of the privacy feature MimbleWimble and brings the total number of digital currency exchanges that have delisted Litecoin to five, including Upbit and Bithumb.
Upbit has issued an investment warning about Litecoin (LTC) to its users, who have been left on edge because of its upgrade that introduces confidential transactions.
The Korea Fair Trade Commission will put Dunamu, owner of the country's largest digital currency exchange Upbit, under high scrutiny due to the firm's monopolistic market share.
Following the withdrawal limits, Upbit has said it will go further in restricting trading services to verified users only, including all deposits and withdrawals, effective October 13.
Upbit submitted the business report that exchanges are required to file with South Korea’s FIU, upon completing real-name verification and partnering with a bank.
The South Korean startup bank is said to be experiencing rapid growth from its services, which senior executives think could see the bank turning a profit in 2022.
In a deal reported to be worth $52 million, Hanwha has invested through its brokerage arm, which will acquire 2.06 million shares. The deal is expected to close on February 22.
The licenses will allow Upbit Thailand to offer services in four categories: digital token exchange, digital token broker, digital currency broker and digital currency exchange.
In an interview with CoinGeek, Chainalysis discusses how the COVID-19 pandemic has affected digital currency crime, Upbit partnership and how it’s coping in these trying times.
South Korea is gripped by a child porn scandal that has caused national uproar. And now, the four largest digital currency exchanges are helping investigators.
South Korean crypto wallet Bitberry is set to shut down at the end of this month, blaming the crypto market slow momentum and the uncertainty of the industry.