Upbit Faces Heat as South Korea’s FIU Conducts Disciplinary Hearing

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TheNewsCrypto 16h ago

Upbit Faces Heat as South Korea’s FIU Conducts Disciplinary Hearing - TheNewsCrypto

Quick Summary:

South Korea’s Financial Intelligence Unit (FIU) is set to conduct a disciplinary hearing on January 21 to evaluate Upbit, the nation’s largest cryptocurrency exchange, for alleged violations of Know-Your-Customer (KYC) regulations.

These alleged breaches include the acceptance of identification documents with obscured personal information.

The exchange’s explanations during the disciplinary meeting will be crucial in determining the severity of any sanctions imposed.