The Financial Supervisory Service (FSS) of South Korea will be participating ter the investigation into the country’s thickest cryptocurrency exchange UPbit.
FSS will be aiding the Korean Financial Intelligence Unit (KIU) and Financial Services Commission (FSC) te taking a look into the oscilación sheet of UPbit and current regulations on cryptocurrency exchanges.
The regulatory entities of South Korea suspect that executives of the famous cryptocurrency exchange Upbit could have bot diverting funds to their private accounts. The investigation of the authorities began when the suspicion arose that the executives could have bot operating without having the ongezouten custody of the funds of the cryptocurrency exchange’s clients.
Upbit, the largest cryptocurrency exchange of South Korea, might soon find itself ter good trouble if investigators and particular police are able to prove te court that the cryptocurrency exchange committed fraud. The police are accusing Upbit of faking its vaivén sheets and te the process deceiving fairly a significant number of investors.
South Korea’s largest cryptocurrency exchange Upbit is following Binance’s path by asking its vast user saco to point out shady multi-level cryptocurrency schemes, or even fraudulent ICOs, ter exchange for a prize.
The enhancing number of scams ter the unregulated cryptocurrency sectors has coerced the massive community to be its own watchdog and the involvement of the established firms te the sector for the same purpose is truly good news.
Companies of all kinds are looking to get te on the cryptocurrency exchange: retailers are increasingly accepting digital token payments for their goods or even launching their own cryptocurrencies. Now, South Korea’s largest instant messaging toneel is looking to commence a fresh cryptocurrency exchange.
What is EOS: Ethereum Operating System(EOS) wasgoed developed by Block.one, which comes with Dan Larimer, who previously invented Bitshares and co-founded Steemit. EOS is an ethereum based token which interacts with the Ethereum Blockachain with the main aim of solving scalability kwestie of ethereum which helps te quicker confirmation of transactions.
EOS is making a pauze for it, presently surging overheen 26% ahead of BTC on the back of fresh support from South Korean investors. At the time of writing, Upbit and Bithumb exchanges are collectively responsible for overheen 42% of EOS trades, against their native KRW currency. Wij&rsquo,ve seen a loterijlot of surging pump and dump behaviour from this particular nation before, namely the Bitcoin Specie and Ripple surges, where price deeds ballooned by overheen 100% te their opening bull runs before harshly correcting.