Crypto exchange Upbit could face sanctions from South Korean authorities for not complying with money laundering obligations.

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Upbit Could Face Sanctions in South Korea for Not Complying With Money-Laundering Requirements: Report

Upbit, one of the largest crypto exchanges in South Korea, has reportedly received a suspension notice for alleged KYC violations.

Cointelegraph

Upbit crypto exchange receives suspension notice in South Korea

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Upbit must respond to the FSC’s suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months.

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South Korea’s largest crypto exchange, Upbit, has reportedly received a suspension notice from the Financial Services Commission (FSC) for allegedly violating anti-money laundering (AML) and Know-your-client (KYC) requirements. Upbit Faces Suspension Of Up To 6 Months On Thursday, the Maeil Business Newspaper reported that South Korea’s Financial Intelligence Unit (FIU) notified the crypto exchange Upbit of possible sanctions over alleged violat…

Bitcoinist

Crypto Exchange Upbit Faces Suspension Over KYC Violations

Upbit's regulatory challenges may disrupt South Korea's crypto market, impacting investor confidence and prompting stricter industry oversight. The post Upbit faces business suspension and fines over anti-money laundering violations appeared first on Crypto Briefing.

Crypto Briefing

Upbit faces business suspension and fines over anti-money laundering violations

South Korean Regulator Issues Suspension Notice to Upbit South Korean crypto exchange Upbit has received a suspension notice for allegedly violating Know Your Customer regulations.

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South Korean Regulator Issues Suspension Notice to Upbit

The post Upbit faces business suspension and fines over anti-money laundering violations appeared on BitcoinEthereumNews.com. Key Takeaways Upbit is facing potential suspension and fines due to AML and KYC violations. The Financial Intelligence Unit found 700,000 KYC procedure failures at Upbit. Upbit, which dominates South Korea’s crypto trading market, faces potential business suspension and fines due to violations of anti-money laundering (AM…

Bitcoin Ethereum News

In the latest development in the Upbit scrutiny, South Korea ordered the platform to suspend its business operations. Citing violations of Know-Your-Customer (KYC) rules and anti-money laundering laws, South Korea notified the exchange about the suspension. Upbit’s future services in the country remain in jeopardy as the exchange has received severe-than-expected sanctions. Upbit To Suspend Business in South Korea The South Korean Financial Inte…

Coingape

Just-In: South Korea Regulator Suspends Upbit's Operations Over KYC Violations

Crypto exchange Upbit may be penalized for allegedly breaking South Korean financial regulations.

crypto.news

Upbit subject to potential sanctions in South Korea

Source: Bitcoinist 
South Korea’s largest crypto exchange, Upbit, has reportedly received a suspension notice from the Financial Services Commission (FSC) for allegedly violating anti-money laundering (AML) and Know-your-client (KYC) requirements. Upbit Faces Suspension Of Up To 6 Months On Thursday, the Maeil Business Newspaper reported that South Korea’s Financial Intelligence Unit (FIU) notified the crypto exchange Upbit of possible sanctions…

Upbit Could Face Sanctions in South Korea for Not Complying With Money-Laundering Requirements: Report

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