Upbit to Launch Exchanges in Thailand and Indonesia

The websites of new trading platforms have already been launched
13 November 2018   636

One of the leading South Korean cryptoexchanges, Upbit, has begun promoting new trading platforms in Indonesia and Thailand as part of a plan to expand the company's global reach. It is reported by Bitcoin.com, citing local sources.

The websites of new trading platforms have already been launched. According to the CEO of the parent company Dunamu Lee Seok Wu, since its inception, Upbit had planned to become a global-scale cryptotocompany that was not constrained by the domestic market.

The other day Upbit launched a trading platform in Singapore that supports local fiat currency.

As for the upcoming platform Upbit Thailand, it is still at the stage of closed beta testing and is available for a limited number of traders. This platform will support 131 coins in 241 trading pairs.

Upbit's Indonesian division will feature 156 coins in 276 currency pairs.

Korean Exchange to Create AML Hotline

Operators will be checking suspecious transactions in real time by the user reports
28 January 2019   1404

The four leading cryptocurrency exchanges of South Korea are joining forces in the fight against money laundering, reports the local news agency The Korea Herald.

Bithumb, Upbit, Korbit and Coinone exchanges organized a hotline through which users can report suspicious transactions that may be related to criminal activities, such as financial pyramids. A representative of one of the participating exchanges, on condition of anonymity, said that operators would be able to verify suspicious transactions in real time and immediately block the accounts associated with them if the information is confirmed.

Earlier this month, it became known that 21 South Korean stock exchange cryptocurrencies were audited by the security of local authorities. Most firms were unable to prevent criminal activity, but the measures used by Bithumb, Coinone and Korbit were satisfied with the regulators.

The cooperative step against money laundering via cryptocurrencies is expected to boost the soundness of the industry and to better protect consumers.
 

Quote, Yonhap

On January 20, it was reported that the leaders of the Korean Komid Crypto Exchange were sentenced to prison terms for falsifying trading volumes.