South Korea’s FIU Investigates Upbit for 600K KYC Violations

Quick Summary:

The Financial Intelligence Unit (FIU) has flagged between 500,000 and 600,000 identification issues during the review of Upbit’s business license renewal.

Given the high number of alleged violations, potential fines could reach millions.

The FIU’s findings suggest Upbit failed to meet these standards.

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Article Details

Author / Journalist: Sindhu

Category: Crypto

Markets: United Arab EmiratesSouth Korea

Topics: Cryptoexchange Latest News Upbit

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-15 @ 12:15:17 (15 hours ago)

News Timezone: GMT +0:00

News Source URL: thenewscrypto.com

Language: English

Article Length: 296 words

Reading Time: 2 minutes read

Sentences: 28 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © TheNewsCrypto

News ID: 23603878

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About TheNewsCrypto

Main Topics: Crypto

Official Website: thenewscrypto.com

Update Frequency: 20 posts per day

Year Established: 2020

Headquarters: United Arab Emirates

News Last Updated: 12 hours ago

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