South Korea-based Upbit announced yesterday that it is canceling its partnership with Bittrex, days after the platform announced it was restructuring its services from the reorganization of the Bitcoin, Ethereum, and Tether market.

According to to source Bittrex has allowed Upbit in the past two years to offer a wide range of trading alternatives to stand out from other platforms in South Korea.

The announcement of the termination of cooperation coincided with the date of the end of the partnership between the two platforms, as the Upbit platform decided not to renew the agreement, so it is possible that support for various crypto tokens will stop.

Due to the suspension of the partnership between the two platforms, Upbit says that transactions related to Bitcoin, Ethereum, and Tether will remain the same and there will be some changes related to some currencies such as KRW.

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It is expected that kakao’s klaytn coin will be listed on Upbit, becoming the first coin to be included after the partnership with Bittrex was terminated, as it was indicated by the klaytn management in early September that the coin will be included in Upbit at the end of the month.

The new changes that occurred came after pressure from the South Korean government to comply with the laws of the FATF, which in turn imposed strict measures on trading platforms, including OKEx as well.

Upbit’s latest update comes as a huge blow to Bittrex, which has been going through rough times recently, including shutting down its New York City operations after failing to obtain an operating license.

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