South Korean financial regulator clarifies: No sanctions finalized for Upbit exchange

The South Korean Financial Services Commission (FSC) said in a press release that no sanctions have been determined for the cryptocurrency exchange Upbit. This announcement comes in response to earlier reports that suggested the FSC had issued a preliminary notice about possibly suspending Upbit's services for new customers for up to six months. Upbit has responded to these reports, emphasizing that the sanctions are not yet confirmed and that it intends to clarify the concerns raised in upcoming procedures, including those involving the sanctions review committee.