TechFlow news, July 13, according to BLOCKMEDIA reports, South Korean police are investigating an incident of political interference in cryptocurrency market competition. The former assistant of independent lawmaker Kim Byung-ki was accused of pressuring the Financial Supervisory Service (FSS) last February, forcing Upbit to terminate fee waiver campaigns for $USDC and $USDT to alleviate the financial pressure suffered by competitor Bithumb due to launching zero-fee promotions. The suspicion lies in the fact that the assistant obtained an informal advisory position at Bithumb several months after the interference occurred; meanwhile, the lawmaker's son was also hired as an intern by the exchange. Bithumb denied knowing about any political interference, insisting that the fee adjustment was an independent business decision.
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