South Korean lawmakers are calling for a hefty fine for Upbit
2025-07-17 08:05:44
South Korea's Democratic Party lawmaker Min Byung-deok said on the 17th that the virtual asset exchange Upbit should be fined up to 183 trillion won for large-scale violations of regulations such as the customer identification system (KYC). The Financial Information Analysis Institute (FIU) investigation found that Upbit had about 9.57 million legal violations, including 9.34 million KYC violations, especially the use of old images when re-verification of identity is required. Although the FIU has imposed a three-month partial business suspension on Upbit and punished 10 personnel, the amount of the fine has not yet been decided. MP Min criticized this as a reflection of insufficient internal control of the exchange and negligence of regulators.
Disclaimer:
1. The information provided does not constitute investment advice. Investors should make independent decisions and bear all risks themselves.
2. The copyright of this content belongs to the original author. The views expressed herein are solely those of the author and do not represent the stance or position of this website.
Previous article：
韩国议员呼吁对Upbit处以巨额罚款Next article：
PUMP短时跌破0.0052美元，24小时跌幅达18.88%
