South Korea's two leading cryptocurrency exchanges, Upbit and Bithumb, have announced the delisting of Loopring (LRC). Trading support for the Ethereum-based layer-2 token will cease on March 16, 2026, at 1500 KST. The decision follows a comprehensive internal review by the exchanges, citing ongoing concerns over the project's disclosure transparency, operational clarity, and development progress.
The exchanges stated that LRC no longer satisfies their listing maintenance criteria, which are designed to protect investors and ensure adequate project communication. While no misconduct was alleged, the exchanges indicated the token failed to meet evolving standards for business transparency and the sustainability of its roadmap.
Deposits for LRC have already been suspended. After trading ends on March 16, all open orders will be automatically canceled. Users will have a grace period until April 16, 2026, to withdraw their LRC holdings. However, services such as airdrops will no longer be supported. Both exchanges advised users to review their holdings and take necessary action to avoid disruptions.
The announcement had an immediate market impact, causing the price of LRC to drop approximately 10%. This reaction reflects the significant market share commanded by Upbit and Bithumb in South Korea's domestic crypto trading. Removal from these major platforms materially reduces a token's accessibility and liquidity within one of Asia's most active retail trading markets.
The delisting occurs within South Korea's strictly regulated digital asset environment, where exchanges are subject to rigorous reporting standards and periodic asset reviews. Projects are expected to maintain consistent disclosures regarding development, governance, tokenomics, and risk factors. In recent years, local exchanges have demonstrated a greater willingness to remove tokens that fall short of these evolving compliance benchmarks, reflecting both regulatory pressure and an industry-wide shift toward enhanced investor protection.
Loopring, a protocol designed for scalable decentralized exchange infrastructure, continues to operate independently. However, the delisting may limit its exposure to a key regional market. The longer-term impact on LRC's liquidity and valuation will depend on trading activity across other global exchanges and the project's ability to address the transparency concerns raised during the review.
