🚀 Breaking Crypto News from South Korea! 🚀

🔹 Upbit, South Korea's largest exchange, is under investigation by the Financial Services Commission (FSC) for suspected monopoly.

🔹 During a parliamentary audit, lawmaker Lee Kang-il raised concerns about Upbit taking a large portion of K-Bank's deposits, posing a risk of a "bank run".

🔹 FSC Chairman Kim Byung-hwan confirmed that he will examine Upbit's monopoly structure after the Electronic Financial Transactions Act is implemented on September 15.

🔹 K-Bank, Upbit's main banking partner since 2021, has filed for an IPO that could raise up to $732 million, making it the largest listing in South Korea in nearly 3 years.

💬 What do you think about this situation? Share your thoughts in the comments section below! 👇