Upbit Appeals Controversial ₩35.2 Billion Fine from FIU

South Korean cryptocurrency exchange Upbit faces a significant legal hurdle after the Financial Intelligence Service (FIU) imposed a hefty fine of ₩35.2 billion for alleged KYC violations. The company, owned by Dunamu, is now considering appealing this decision, a move influenced by its successful court challenge in a previous case against Hanbitco. This latest sanction has significant ramifications for Upbit’s operations and investor confidence. ]