One of the largest crypto exchanges in South Korea, Upbit, will suspend deposits and withdrawals of digital assets over 1 million won (~$721). This decision is due to changes in the services of Ten&Ten, one of the deposit and withdrawal providers. 📉

Upbit announced on April 17 that the reason for the suspension was the suspension and termination of Ten&Ten's Travel Rule Solution service.

The last day to withdraw crypto assets is April 22 at 10:00 KST.

South Korean financial authorities are currently planning to release new guidelines tightening regulations for listing tokens on centralized crypto exchanges by the end of April or at the beginning of May at the latest.