Upbit

Upbit, a major South Korean cryptocurre­ncy exchange, faced challe­nges with high-volume transactions. The e­xchange announced suspending de­posits and withdrawals exceeding 1 million won (around $721) on April 17th. This de­cision raised concerns among Korean crypto e­nthusiasts about Upbit’s future operations and South Korea’s re­gulatory environment for cryptocurrencie­s. The issue­ began when Ten&Te­n, a Virtual Asset Service Provide­r, […]

Binance maintained the largest centralized exchange (CEX), with a market share of 43.7%, according to data from  CoinGecko. Spot trading volume on Binance soared to $427.1 billion in December 2023, a month-on-month (MoM) hike of 37.5% from the $310.6 billion recorded in November 2023. The research analyzed data from January 1, 2023, to December 31, 2023. It […]

In a year marked by regulatory challenges and market fluctuations, Binance, once the undisputed leader in the cryptocurrency exchange space, has seen a notable decline in its market share. According to a recent report from TokenInsight, Binance’s market share dropped from 54.2% at the beginning of the year to 48.7% by the end of 2023. The report […]

Upbit, the South Korean cryptocurrency exchange, has made a significant stride in its global expansion plans with the recent in-principle approval from the Monetary Authority of Singapore (MAS) for a Major Payment Institution (MPI) license. This pivotal regulatory development positions Singapore as a key hub for Upbit’s international operations. Upbit’s parent company, Dunamu, expressed its […]

South Korean financial regulators are closely monitoring over-the-counter (OTC) crypto trading due to growing concerns about its potential use in illegal activities.  Park Min-woo from the Financial Services Commission (FSC) and Deputy Chief Prosecutor Ki No-Seong and other vital regulatory officials convened a session titled “Criminal Legal Issues Related to Virtual Assets,” per the report […]