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Have you noticed recently? The listing pace on Upbit in South Korea has suddenly slowed down to an absurd level.
Looking back at the beginning of November, there was a flurry of new coins making waves, it was quite lively. But in the last 19 days? Only one Meteora has been launched, and it's an old coin that was already running in the secondary market. The contrast is just too obvious.
Today, South Korean media revealed that things are not that simple—regulators are keeping an eye on it. Major platforms like Upbit, Bithumb, and Coinone have all been found to have loopholes in their KYC processes, and suspicious transactions have not been reported according to regulations.
I heard that there might be a penalty coming up: for the next three months, deposits and withdrawals for new users will be directly frozen. If this really happens, the impact could be significant.
It seems that nobody can bypass the hurdle of compliance.