Korea's top crypto exchange to implement stringent ID checks – koreatimes

The Korea Financial Intelligence Unit (KoFIU) under the FSC said 33 exchange operators had submitted business operation requests as of Sept. 24. Only Upbit was cleared in KoFIU’s review, with the results for the remaining exchanges to remain undecided for the next three months.

Operators of cryptocurrency exchanges without FSC authorization will be subject to prison term of up to five years and fine of up to 50 million won.


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