South Korea probes Upbit for 600K KYC violations

Due to the alleged KYC violations, Upbit reportedly faces fines of $71,500 per case in addition to possible issues with its business license renewal.

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California man sues 3 Asia banks over $1M pig butchering crypto-fraud scam

California resident Ken Liem accused three banks of failing to perform adequate checks that could have blocked scammers from opening accounts.

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Upbit crypto exchange receives suspension notice in South Korea

Upbit must respond to the FSCs suspension notice by Jan. 20 or face restrictions on new registrations on the platform for six months.

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FTX EU Launches New Website for Withdrawals as Subsidiary Starts Returning Funds to Customers

FTX’s European subsidiary, FTX Europe, has launched a new website, ftxeurope.eu, for users to withdraw funds from the now-defunct cryptocurrency platform. Withdrawal requests must be submitted through the new website and will be “subject to customary know-your-customer and anti-money-laundering checks.” FTX’s European Arm Opens Withdrawals to Customers According to a press release published on Friday, [...]

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