Upbit, as the first virtual asset operator… Flybit-KODA reports additional

[아시아타임즈=김지호 기자] Upbit, a domestic virtual asset exchange, was reported and accepted as the No. 1 virtual asset operator. In addition, Flybit submitted a business report for the operation of a coin market that only brokers transactions between virtual assets without financial intervention.

According to the financial authorities on the 18th, the Financial Intelligence Unit (FIU) of the Financial Services Commission held the first virtual asset business report review committee to review Dunamu, which operates Upbit, and decided to accept the report. This is the first time the FIU has accepted a report from a virtual asset operator.

photo = Yonhap News

The FIU said, “Today, the 1st virtual asset business reporting review committee was held to review Dunamu. Considering the results of the Financial Supervisory Service’s report review on Dunamu and the discussion of the virtual asset business reporting committee, Dunamu It has been decided to accept the report of the virtual asset business operator.”

As a result, Upbit can continue to operate normally even after the 24th day after the grace period of the ‘Act on the Reporting and Use of Specific Financial Transaction Information (Special Act)’ ends. Upbit, launched in 2017, is the No. 1 cryptocurrency exchange in Korea, accounting for nearly 90% of domestic trading volume. As of last month, the number of members reached 8.5 million.

Upbit said, “We will do our best to provide a safer and more reliable digital asset investment environment by fulfilling the obligations stipulated in the Special Act and related laws and strengthening anti-money laundering (AML) and customer identification (KYC). “he promised.

In addition, the FIU announced that Flybit exchange and Korea Digital Asset (KODA), a virtual asset trustee, have submitted additional virtual asset business reports.

As a result, the number of virtual asset providers that have completed filing a report with the FIU has increased to a total of six, including the ‘four major exchanges’. The four major exchanges submitted reports on the 20th of last month, starting with Dunamu (the exchange name is Upbit), followed by Bithumb Korea (Bithumb), Coinone (Coinone), and Korbit (Korbit).

The report review committee consisted of nine external private experts.

Previously, although the administrative processing period for review of reports was 90 days, the authorities decided to expedite the review and accept the report early.

Flybit, which issued a new report on the same day, announced on the 10th of this month that the KRW market would be closed on the 17th. Therefore, it is not possible to support KRW transactions until a bank real-name verification account (hereinafter referred to as a real-name account) is secured and a change is reported.

The FIU disclosed that it was in pre-consultation with 27 business operators in addition to the six companies that submitted the report, such as checking the required documents.

According to the Special Provisions Act, virtual asset business operators are required to report to the FIU by the 24th by obtaining ISMS certification and a real-name account. If you do not support KRW transaction, you can report only with ISMS certification. Unreported exchanges will not be able to operate from the 25th.

To date, 28 coin exchanges have received ISMS certification, and 12 other virtual asset providers such as wallet operators.

The FIU urged virtual asset operators who have not yet submitted a report to file a report as soon as possible, considering that there is one week left until the end of the reporting period (24th).


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