According to TechFlow, on October 10, Cointelegraph reported that the South Korean Financial Services Commission (FSC) plans to launch an investigation into Upbit, the country's major cryptocurrency exchange, for potential antitrust violations, according to local Korean news agency Infomax. During the South Korean parliamentary audit, congressman Lee Kang-il (transliteration) expressed concerns about Upbit's market monopoly and its relationship with online bank K-Bank. Lee Kang-il specifically pointed out that Upbit's deposits accounted for too high a proportion of K-Bank's deposits, which could trigger a run risk.

FSC Chairman Kim Byung-hwan said he had noticed Upbit's monopoly issues and promised to investigate Lee Kang-il's concerns. "We implemented (the Electronic Financial Transactions Act) on September 15, and we will check the relevant situation after the system is implemented," Kim Byung-hwan said.