South Korea Sanctions Crypto Exchange Upbit
Reading Time: < 1 minute
South Korean cryptocurrency exchange has been sanctioned by the country’s regulator.
Upbit has clarified the sanctions imposed by financial authorities, attributing them to issues discovered during the 2024 on-site inspection by the Financial Intelligence Unit (FIU).
These sanctions include a partial suspension of operations and a prohibition on new customers transferring virtual assets. Upbit has assessed the required improvements and taken steps to address the sanctions imposed by the financial authorities.
These sanctions may be modified according to applicable regulatory procedures. If the measures are lifted or rendered ineffective, new users will be able to access Upbit’s services without any restrictions.
Follow and like us on
