Upbit suspends crypto transactions exceeding 1 million won
The suspension of Ten&Ten’s Travel Rule Solution service led to Upbit’s halt of deposits and withdrawals exceeding the equivalent of $721.
One of South Korea’s largest crypto exchanges, Upbit, will suspend deposits and withdrawals of digital assets of more than 1 million won (approx $721).
The move comes in response to changes to the virtual asset service provider (VASP) Ten&Ten, one of the providers of deposits and withdrawals.
Crypto exchange Upbit announced in a blog post on April 17, that the suspension of use and termination of Ten&Ten’s Travel Rule Solution service is the reason behind its suspension of deposits and withdrawals.
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Author: Amaka Nwaokocha
