The Financial Commission and FIU of South Korea have identified massive KYC violations at the Upbit crypto exchange, where more than 500,000 clients used improper identification documents. This was discovered during the review of a license renewal application. The violations may result in fines; however, due to their scale, the question of their amount becomes critical.The decision to renew the exchange's license is now at risk.
11/15/2024 1:47:19 PM (GMT+1)
The Financial Commission and FIU of South Korea identified 500,000+ KYC violations on Upbit: the use of improper IDs threatens license renewal and leads to fines 🚨
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This material was prepared by Khachatur Davtyan, developed and translated by artificial intelligence.
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