On January 16, it was reported that Upbit, the largest cryptocurrency trading platform in South Korea, received a notice of business suspension from the financial regulator for violating the customer confirmation system (KYC) and failing to fulfill its anti-money laundering obligations. According to the news from the financial community on the 16th, the Financial Intelligence Analysis Unit (FIU) of the Financial Commission issued a pre-notice to Upbit on the 9th of this month on the content of sanctions related to violations of the "Specific Financial Transaction Information Law". The core content is business suspension. If the punishment is finalized, Upbit will be restricted from conducting new customer-related business during the business suspension period (up to 6 months).