Oasis

Rule

April

Standard

USDC

<ul>
 <li>Upbit announced the decision citing the suspension and termination of Ten&amp;Ten’s service.</li>
 <li>Withdrawals of cryptocurrency will be made available until April 22.</li>
</ul>
One of the biggest cryptocurrency exchanges in South Korea, <a href="https://thenewscrypto.com/crypto-exchange-upbits-trading-volume-plummets-drastically-after-march-peak/" target="_blank" rel="noopener noreferrer nofollow">Upbit</a>, will halt any transactions involving digital assets worth more than 1 million won ($721). This is a reaction to recent developments at Ten&amp;Ten, a local facilitator of deposits and withdrawals and a virtual asset service provider (VASP).
Upbit announced the decision to suspend deposits and withdrawals on April 17th, citing the suspension and termination of Ten&amp;Ten’s Travel Rule Solution service as the cause.&nbsp;Withdrawals of cryptocurrency will be made available until April 22 at 10:00 am Korea Standard Time, since the Ten&amp;Ten exchange services ceased supporting transactions on April 15.
<a href="https://app.notabene.id/network/did:ethr:0xcd551d870e03f556c3cbb491535115637a0d536a/ten-ten-exchange" target="_blank" rel="noopener noreferrer nofollow">Ten&amp;Ten</a> facilitated over 1 million won in cryptocurrency deposits and withdrawals for the exchange. Borabit, Coredocs, GDAC, Hanbitco, Qbit, Korea Digital Asset Trust, Oasis Exchange, and Prabang are among the other VASPs that permit deposits and withdrawals above 1 million won.
<h3 class="wp-block-heading" id="h-tumbling-performance">Tumbling Performance</h3>
Moreover, with 528.57 billion in trading volume, Upbit was ranked second in market share by the European Union (EU) in a study issued on April 10. Crypto exchange <a href="http://binance.com" target="_blank" rel="noopener noreferrer nofollow">Binance</a> was first.
The amount of cryptocurrency transactions using the South Korean won exceeded that of the US dollar in the first three months of 2024. The overall amount of transactions in U.S. dollars was around $455 billion, while transactions in Korean won on centralized exchanges was over $456 billion, according to <a href="https://www.kaiko.com/" target="_blank" rel="noopener noreferrer nofollow">Kaiko</a> statistics.
At the beginning of April, Upbit’s 24-hour trading volume dropped to $3.8 billion, down from a high point earlier in March. Upbit reached its biggest trading volume of 2024 on March 5 with about $15 billion in daily trades.
Highlighted Crypto News Today:
<a href="https://thenewscrypto.com/usdc-issuer-circle-successfully-completes-soc-2-type-2-audit/" target="_blank" rel="noopener noreferrer nofollow">USDC Issuer Circle Successfully Completes SOC 2 Type 2 Audit</a>

Crypto Exchange Upbit Halts Deposits and Withdrawals of Over 1 Million Won

Table of Contents

TheNewsCrypto

Other articles published on Apr 17, 2024

Top 4 NFTs By Market Cap: A Closer Look At Their Analytics

YOUR AI Pushes E-Commerce Adoption of Web3 with BRC-20, AI and Shopify Partnership, Setting Itsel...

Grayscale’s Bitcoin Holdings Shrink by Half as ETF Competition Intensifies

Ripple’s XRP powers all Tranglo real-time transactions

AI-Focused Altcoins Gain Spotlight as Crypto Market Seeks Stability

Why Bitcoin Price is Crashing? Here Are Top Factors Influencing BTC Price

Join our free newsletter for daily crypto updates!