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April

Upbit — one of South Korea’s largest crypto exchanges — will suspend deposits and withdrawals of digital assets of more than 1 million Korean won ($721). 
The move comes in response to changes to the virtual asset service provider (VASP) Ten&amp;Ten, one of the local facilitators of deposits and withdrawals.
In an April 17 <a href="https://upbit.com/service_center/notice?id=4164" target="_blank" rel="noopener nofollow">announcement</a>, Upbit said the suspension of use and termination of Ten&amp;Ten’s Travel Rule Solution service is the reason behind its decision to halt deposits and withdrawals.
The Ten&amp;Ten exchange services stopped transaction support on April 15, and the last date to withdraw crypto assets is April 22 at 10:00 am Korea Standard Time.
Ten&amp;Ten helped the crypto exchange offer crypto deposits and withdrawals of over 1 million won. Other VASPs that allow deposits and withdrawals over 1 million won include Bblock, Gopax, FlatExchange, Aprobit, Prabang, Borabit, BTX, Flybit, Foblegate, Bithumb, Coinone, Korbit, Coredocs, GDAC, Hanbitco, Qbit, Korea Digital Asset Trust and Oasis Exchange.
In a report released on April 10, the European Union named Upbit <a href="https://cointelegraph.com/news/eu-watchdog-small-number-exchanges-dominating-crypto">second in market share after Binance</a>, with approximately 528.57 billion in trading volume.
In the first quarter of 2024, the <a href="https://cointelegraph.com/news/korean-won-most-traded-fiat-crypto-traders">South Korean won surpassed the United States dollar</a>&nbsp;in crypto trading volume. According to Kaiko data, transactions in Korean won on centralized exchanges totaled over $456 billion, slightly exceeding the U.S. dollar's cumulative volume of around $455 billion.
Related: <a href="https://cointelegraph.com/news/south-korea-police-4-1-m-crypto-fraudsters">South Korean police catch $4.1M crypto scam duo</a>
Currently, South Korean financial authorities <a href="https://cointelegraph.com/news/south-korea-tougher-rules-crypto-exchange-listings">plan to release new guidelines imposing tighter regulations</a> for token listings on centralized crypto exchanges by the end of&nbsp;April or, at the latest, early May. 
Authorities will also prohibit listing digital assets with hacking incidents on domestic exchanges unless the root cause is thoroughly determined.
The 24-hour trading volume at Upbit fell to $3.8 billion at the start of April after reaching a high earlier in March. On March 5, Upbit recorded a daily trading volume of almost $15 billion, the exchange’s highest trading volume of 2024 so far.
The crypto exchange’s surge in daily trading volume may be attributed to Bitcoin <a href="https://cointelegraph.com/news/bitcoin-price-sets-new-record-high-69k">reaching a new all-time high</a> of $69,200 on the same day.
<a href="https://cointelegraph.com/news/hong-kong-approves-spot-bitcoin-etfs-law-decoded">Hong Kong’s financial regulator</a> has reportedly approved three spot Bitcoin (<a href="https://cointelegraph.com/bitcoin-price">BTC</a>) exchange-traded funds, which are expected to list on the Hong Kong Stock Exchange in approximately two weeks.
Magazine: <a href="https://cointelegraph.com/news/eth-price-3-year-lows-bitcoin-ethereum-etf">ETH price nears 3-year lows vs. Bitcoin — Will an Ethereum ETF stem the tide?</a>

Upbit suspends crypto transactions exceeding 1 million won

Cointelegraph

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