The South Korean Crypto Exchange Opporticate faces a three -month suspension on new user transfer following a violation of local rules.
One of the largest Korean Crypto exchanges has been killed by a three -month suspension on new user transfer by the Financial Services Commission due to a violation of several financial rules, South Korean newspaper Joangang Ilbo Have you learnt,
Boundaries come as a response due to the failure of exchange in compliance with the obligations to report trading restrictions, customer verification duties and suspected transactions, written in the report.
Along with suspension, Korean Financial Watchdog also issued a warning to Dunmu’s CEO, the original company of the Apble, and rejected nine staff members, including the company’s compliance officer, written in the report.
Dunmu has accepted the intentions behind the regulatory action, saying that it is “carefully discussing future stages”. The company also assured that while new users transfer are restricted, service remains unaffected for existing users.
As Crypto.news reported earlier, the upbit, which controls more than 70% of the local crypto market, came under investigation due to more than 700,000 KYC violations discovered during review of its business license renewal. Additionally, the Apbeit agreed to provide the biggest payment to users so far after the system failures starting with the Marshal Law announcement in December 2024, between a coup in South Korea, when the government actions across the country In broad disturbance and major disruption in.
