South Korea's Financial Services Commission Chairman Kim Byung-hwan has vowed to "look into" the dominance of the country's top cryptocurrency exchange, Upbit.

- At a parliamentary meeting, lawmaker Lee Kang-il raised the issue of Upbit's dominance and its close ties with local bank K-Bank.

- K-Bank holds a large portion of Upbit's deposits, raising concerns about the possibility of a "bank run" if trading with Upbit is cut off.

- South Korea's Ministry of Strategy and Finance is considering measures to more strictly regulate stablecoins.

Upbit currently accounts for 80% of cryptocurrency trading in South Korea and ranks 5th globally. 🚀