South Korea’s FSC will reportedly investigate Upbit’s relationship with its bank partner K-Bank before the latter’s IPO, which is expected in late October.
Major South Korean cryptocurrency exchange Upbit reportedly faces a monopoly investigation from local financial regulators.
South Korea’s Financial Services Commission (FSC) plans to investigate Upbit exchange for potential anti-monopoly breaches, the local news agency Infomax reported on Oct. 9.
During an audit by the South Korean parliament, the National Assembly, lawmaker Lee Kang-il reportedly expressed concerns about Upbit’s market monopoly and its relationship with online bank K-Bank.
