Regulators force closure of Upbit, exacerbating uncertainty in cryptocurrency markets
Source: CoinWorld
Time: 2025-09-10 15:12:12
South Korea’s Financial Intelligence Agency (FIU) has ordered Upbit, the country’s largest cryptocurrency exchange, to suspend operations due to its failure to comply with KYC and AML regulations. The move highlights the strengthening of regulatory scrutiny in the region and raises concerns about market liquidity and operational risks on other exchanges. Meanwhile, Polygon’s native token, POL, fell to its two-year low of $0.34, despite its DeFi total lock-in value (TVL) growing 43% so far this year to $1.23 billion, reflecting mixed signals from the cryptocurrency market amid a wider regulatory tightening.