The South Korean cryptocurrency exchange Upbit was temporarily suspended for three months by the decision of the Financial Intelligence Unit (FIU). The sanctions involve a ban on new deposits and withdrawals for new users due to violations related to working with unregistered crypto asset providers. The exchange has already taken measures to rectify the situation and hopes for a change in the sanctions conditions in the future. Existing users can continue to use all available services. The current trading volumes on the platform have decreased by 70 percent.
2/25/2025 12:30:45 PM (GMT+1)
The Financial Intelligence Unit of South Korea suspends the operation of the Upbit exchange for three months due to violations of cryptocurrency regulations
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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