Upbit Implements New Verification Procedures to Meet Regulatory Demands

South Korean cryptocurrency exchange Upbit, operated by Dunamu, will make changes to its customer verification processes starting May 13, 2025, following pressure from the Financial Intelligence Unit (FIU). This step aligns with a growing trend of regulatory scrutiny on crypto exchanges. The company aims to enhance compliance with Know Your Customer (KYC) standards and anti-money laundering (AML) regulations by meeting FIU mandates.