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$34 Billion Potential Penalties for Korean Crypto Exchange Upbit Over KYC Failures
Nov, 18 2025

$34 Billion Potential Penalties for Korean Crypto Exchange Upbit Over KYC Failures

Upbit, South Korea's biggest crypto exchange, faced a $34 billion potential fine for KYC failures in 2025. The penalty was never imposed, but the suspension and reforms changed crypto regulation globally.

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