[Notice] Suspension and delisting of LTC

BTX
2 min readJun 9, 2022

Thank you for using BTX.

As per BTX’s policy, it will no longer be possible to trade, deposit or withdraw Litecoin (LTC).

The reason for this decision is described in detail below. Please read carefully if you own the said asset as to avoid potential financial losses.

Please refer to our previous announcement: Designation of Litecoin (LTC) as a potential risk to investors.

[Details]

  • Delisting Date: 2022. 06. 09 (Thur)(KST)
  • Deposit and trading suspended on: 2022. 06. 20 (Mon) (KST)
  • Withdrawal suspended on: 2022. 07. 20 (Thur) (KST)

[Delisting Reasons]

From March 25, 2021, the revised Act on the Reporting and Use of Specific Financial Transaction Information (hereinafter referred to as the Specific Financial Information Act) will take effect.

The revised Specific Financial Information Act stipulates that virtual asset service providers(VASPs) are obliged to efficiently prevent money laundering and public threatening activities as legal and institutional devices to prevent the risk of money laundering and public threatening through anonymous digital asset transactions.

On May 20th, 2022, Litecoin Foundation executed the MimbleWimble network upgrade (MimbleWimble Extension Blocks, MWEB) which allows for transactions that do not leave traces.

This makes Litecoin(LTC) susceptible to violation of regulations and guidelines provided by the government and financial regulatory authorities, and thus in violation of BTX policies.

Because of this reason, BTX has chosen to delist the asset. Even after delisting, withdrawal of the said asset will be possible until 2022. 07. 20.

If you are in possession of this asset, please withdraw within the allotted timeline to prevent losses. BTX will continue to put the security of our users first and foremost, in providing transparent services.

Thank you.

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BTX

Dove Wallet rebranded under the name “BTX”.