Deep Tide TechFlow News, on July 17, South Korean Democratic Party lawmaker Min Byeong-deok stated that the virtual asset exchange Upbit should be fined a maximum of 183 trillion won for large-scale violations of customer identification systems (KYC) and other regulations. The Financial Intelligence Unit (FIU) investigation found approximately 9.57 million legal violations at Upbit, including 9.34 million KYC violations, particularly using old images when re-verifying identity was required. Although the FIU has imposed a three-month partial suspension of operations and sanctions against ten individuals at Upbit, the amount of the fine has not yet been determined. Lawmaker Min criticized this as reflecting insufficient internal controls at the exchange and dereliction of duty by regulatory authorities.