TechFlow news, July 19, according to Yonhap News Agency, the Financial Supervisory Service has sent an inspection opinion letter to Upbit's operating company, officially launching sanction procedures. Subsequently, the sanction content will be finally determined through procedures such as company explanation, the Sanction Deliberation Committee, the Securities and Futures Commission, and the Financial Services Commission. Yonhap News Agency stated that since the current "Virtual Asset User Protection Act" mainly focuses on user protection and unfair trading, it lacks direct and clear sanction regulations for hacking/system accidents, resulting in uncertainty regarding the severity of sanctions.
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