KYC Violations

Highlights: Upbit cannot process crypto deposits and withdrawals for new users for three months due to violations. Authorities found that Upbit failed to verify customer identities and processed transactions with unregistered service providers. Upbit is making changes and is working […]

Highlights: Upbit faces FSC sanctions for failing to verify over 700,000 customer identities. Regulators warn of heavy fines, possible suspension, or stricter compliance measures. Cryptocurrencies are coming under more scrutiny in South Korea, affecting exchanges and institutional trading policies. The […]

Highlights: South Korea’s FIU issues a suspension notice to Upbit for violating KYC and AML rules. Upbit could face suspension of up to six months, affecting new user activity and withdrawals. South Korea strengthens crypto regulations and collaborates with the […]