South Korea's financial sector launches investigation into Upbit's 600,000 KYC violations

Odaily News The Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) of South Korea has found at least 500,000 to 600,000 potential KYC violations in the Upbit exchange. Due to suspected KYC violations, Upbit faces a fine of $71,500 for each case, and Upbit's business license renewal may be in trouble. (Cointelegraph)