Upbit’s license renewal in limbo; Hong Kong tightens VASP rules

Quick Summary:

South Korea is uncertain whether Upbit will have its license renewed due to possible KYC breaches; elsewhere, Hong Kong advises VASPs to be cautious of using the word "bank" in its services.

The post Upbit’s license renewal in limbo; Hong Kong tightens VASP rules appeared first on CoinGeek.

The breaches came to light during a virtual asset service provider (VASP) license renewal, prompting market observers to theorize whether the FSC will renew Upbit’s business license.

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Article Details

Author / Journalist: Wahid Pessarlay

Category: Crypto

Markets: CanadaHong KongSouth Korea

Topics: Know Your Customer Financial Intelligence Unit Financial Services Commission Upbit Hong Kong Monetary Authority Business Regulation

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-22 @ 04:00:00 (3 days ago)

News Timezone: GMT +8:00

News Source URL: coingeek.com

Language: English

Article Length: 974 words

Reading Time: 6 minutes read

Sentences: 37 lines

Sentence Length: 27 words per sentence (average)

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

Copyright Owner: © CoinGeek

News ID: 23818165

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