South Korean financial regulation, Financial Intelligence Unit (FIU) ordered Upbit exchange to suspend its business operations for violating KYC and AML regulations. Upbit is the top crypto exchange in South Korea and top 5th crypto exchange across the world, in terms of trading volume. Being one of the largest crypto
South Korea’s Financial Intelligence Unit (FIU) is set to conduct a disciplinary hearing on January 21 to evaluate Upbit, the nation’s largest cryptocurrency exchange, for alleged violations of Know-Your-Customer (KYC) regulations. During a recent on-site inspection tied to the renewal of Upbit’s Virtual Asset Service Provider (VASP) license, the FIU
With Bitcoin touching a new all time high of around $106,000 and Ether going as high as $4,016, the bull run resumed. The overall crypto market cap is standing at $3.7 trillion with a 2.15% increase in the last 24 hours. Meanwhile, Mocaverse native token MOCA witnessed a sharp price
Amidst the bull market sentiment across the crypto industry, the token listing announcements from renowned crypto exchanges is increasing. Two largest South Korean crypto exchange platforms, Upbit and Bithumb announced MOVE token listing today. MOVE is a native token of the Movement Network crypto project built as a layer 2
South Korea’s largest cryptocurrency exchange, Upbit, faces an investigation for alleged violations of Know Your Customer (KYC) procedures. The Financial Intelligence Unit (FIU) has flagged between 500,000 and 600,000 identification issues during the review of Upbit’s business license renewal. The FIU uncovered numerous instances of blurred names or incomplete data
South Korea’s Financial Services Commission (FSC) is reconsidering the possibility of lifting its long-term ban on spot exchange-traded funds (ETFs). It further allows institutional accounts on local crypto exchanges. The Virtual Asset Committee will evaluate approving the virtual asset spot ETFs and allowing the corporate virtual asset accounts. Since 2018,
While the global crypto market is facing downtrend, Wormhole (W) token displayed a significant 20% increase in value after South Korea’s leading cryptocurrency exchange, Upbit, announced its listing for trading. The token is now available in trading pairs with the Korean Won (KRW), Bitcoin (BTC), and Tether (USDT), attracting attention
In preparation for an impending network upgrade, the cryptocurrency exchange Upbit will temporarily disable the Near Protocol’s (NEAR) deposit and withdrawal services. An official announcement states that the suspension will start on August 26 at 3 am UTC. And continue on until the network upgrade is determined to be stable.
Withdrawal fees for 22 different cryptocurrencies have been lowered by Upbit, a crypto exchange based in South Korea. Among them are well-known tokens such as Shiba Inu (SHIB) and Ethereum (ETH). Starting on August 23, 2024, at 1 a.m. ET or 2:00 p.m. KST, this change will take effect. Recent
South Korean employees of the prominent crypto exchange, Upbit, are earning more than their equivalents at major banks. This is due to the booming cryptocurrency market. Recent data from the Financial Supervisory Service (FSS) reveals that the average salaries at Upbit’s operator, Dunamu surged to 133.73 million South Korean won
