Tag: Upbit

  • South Korea Tightens Crypto Rules: Foreign Exchanges Face Sanctions

    South Korea Tightens Crypto Rules: Foreign Exchanges Face Sanctions

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    Oscar

    South Korea’s regulatory crackdown on the crypto industry has intensified, with major foreign exchanges like KuCoin and BitMEX now under scrutiny. As authorities enforce stricter compliance standards, the future of these platforms in the country remains uncertain. Crackdown Targets Foreign Platforms South Korea’s Financial Intelligence Unit (FIU) has flagged multiple foreign exchanges for violating the…

  • Upbit Faces Suspension Over KYC and AML Breaches

    Upbit Faces Suspension Over KYC and AML Breaches

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    by

    Oscar

    Upbit, is under fire as the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) has issued a notice to suspend its operations. The move comes amid allegations of serious breaches of anti-money laundering (AML) and know-your-customer (KYC) regulations. Regulatory Crackdown on Upbit The FIU’s investigation revealed significant lapses in KYC compliance, including over…