2024

Coin

<ul class="wp-block-list news-points">
 <li><strong>FSC investigates Upbit’s market dominance due to concerns over its K-Bank partnership.&nbsp;&nbsp;</strong></li>
 <li><strong>Upbit’s control could risk K-Bank’s stability, accounting for 20% of its total deposits.&nbsp;&nbsp;</strong></li>
 <li><strong>Upbit expands, gaining regulatory approval in Singapore for crypto payment services.</strong></li>
</ul>
<p>South Korea’s Financial Services Commission (FSC) announced plans to investigate Upbit’s market dominance. This investigation follows concerns about Upbit’s ownership in the virtual asset sector and its association with K-Bank, an internet-based bank preparing for an initial public offering (IPO).</p>
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   <p lang="en" dir="ltr">South Korea's Financial Services Commission said it will investigate the market monopoly structure of Upbit, South Korea's largest cryptocurrency exchange. Upbit is also the world's second-largest spot cryptocurrency exchange, and its market dominance began after establishing a…</p>— Wu Blockchain (@WuBlockchain) <a href="https://twitter.com/WuBlockchain/status/1844218592423989293?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">October 10, 2024</a>
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<h2 class="wp-block-heading" id="h-concerns-raised-over-upbit-and-k-bank-relationship">Concerns Raised Over Upbit and K-Bank Relationship</h2>
<p>During a National Assembly state review, FSC Chairman Kim Byung-hwan <a href="https://t.co/fBjBMGg3Ln" target="_blank" rel="noopener noreferrer nofollow">addressed concerns</a> raised by lawmaker Lee Kang-il. Lee expressed worry that Upbit has gained significant market control through its alliance with K-Bank.</p> … 
<p>The post <a href="https://coinedition.com/upbits-market-power-in-south-korea-attracts-regulatory-flak/" rel="noopener noreferrer nofollow">Upbit’s Market Power in South Korea Attracts Regulatory Flak</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.</p>

Upbit’s Market Power in South Korea Attracts Regulatory Flak

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