Odaily Planet Daily News: The Financial Intelligence Unit (FIU) of the Financial Services Commission of South Korea has discovered a large number of suspected violations of customer verification obligations during the business renewal review of Upbit, South Korea's first virtual asset exchange, and is re-examining whether each case is illegal. It is reported that there are at least 500,000 to 600,000 suspected improper ID cards used by customers who implemented the Know Your Customer (KYC) system on Upbit. Virtual asset exchanges require users to open real-name accounts and complete KYC procedures before depositing, trading or withdrawing funds. Users submit their ID cards and undergo identity verification, and once this process is completed, the exchange is considered to be in compliance with AML and CTF regulations. The FIU's review of Upbit is still ongoing. (South Korea's "Daily Economic News")