The Financial Supervisory Service of South Korea requires Dunamu to rectify its public announcement, as its stock exchange with Naver Financial faces the risk of cancellation

According to Money Today, the Financial Supervisory Service (FSS) of South Korea issued a corrective order to Dunamu, the operator of Upbit, on April 3 regarding the "comprehensive stock exchange and transfer decision" main matters report. The FSS pointed out that there were significant omissions or false records in the report submitted by Dunamu on March 30, concerning the "future company restructuring plan" and "other important matters related to investment judgment."

Dunamu clearly stated in the report that due to the need to obtain approval from the Fair Trade Commission, as well as the need to complete the major shareholder change declaration in accordance with the Credit Information Act and the Specific Financial Information Act, this stock exchange may face risks of delay or cancellation. In addition, the legislative process of the "Basic Law on Digital Assets," which is currently under review in South Korea, may also have a significant impact on the transaction.