TechFlow reports on January 16 that Dunamu, operator of Upbit, responded to rumors regarding a business suspension penalty. The company stated that the penalty decision by the Financial Intelligence Unit (FIU) has not yet been finalized and will be subject to appeals through subsequent procedures such as the sanction review committee. Dunamu emphasized that even if the penalty takes effect, it will not affect trading functionality for existing or new users; the core restriction only limits new users from transferring cryptocurrency assets out of the exchange within a specific period.
Earlier report, South Korea's financial regulator issued a business suspension order against Upbit, with final penalty details to be confirmed on January 21.
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