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South Korea: Are recent crypto-regulations paving the way for Upbit’s dominance
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With the dust clearing after a great deal of regulatory rumbling and chaos, crypto-investors in South Korea now have a better idea of where they may need to go in order to continue trading.
However, according to local news reports, one crypto-exchange now possibly holds most of the market share.
South Korean regulators have apparently “accepted” Upbit and Korbit’s reports about their KYC processes. And yet, 27 other crypto-exchanges and 13 operators are still being reviewed.
Even so, there might be a new winner among the top exchanges. A translation of the news report claimed,
“In the process of implementing the reporting system, the opinion of both inside and outside the cryptocurrency industry is that Upbit’s monopoly system has become much
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