UPbit lists Vertcoin

Korean exchange UPbit launched Vertcoin cryptocurrency trading pair on its platform
26 November 2017   1174

Korean based exchange UPbit, which is designed for the expansion of currencies made an announcement of November 26 stating that the exchange listed Vertcoin, an open and decentralized currency built on blockchain technology, which is focusing on a fast decentralized mining network.

At the moment of press, these are main market parameters of Vertcoin:

  • Average price: $5.44
  • Marketcap: $226,207,449
  • 24h volume: $51,712,200

Korean Exchange to Create AML Hotline

Operators will be checking suspecious transactions in real time by the user reports
28 January 2019   1396

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.