Upbit, South Korea’s largest crypto exchange and one of the top 10 crypto exchanges globally, on Wednesday said it will suspend deposits and withdrawals of digital assets of 1 million won (approx $721). The move comes in response to changes to the virtual asset service provider (VASP) Ten&Ten, one among the providers of deposits and withdrawals of 1 million won or more.
Upbit Suspending Crypto Deposits and Withdrawals
Crypto exchange Upbit announces suspension of deposits and withdrawals of digital assets of 1 million won and above for Ten&Ten, as per a notice on April 17.
The suspension of use and termination of Ten&Ten’s Travel Rule Solution service is the reason behind Upbit’s suspension of deposits and withdrawals of more than 1 million won. The Ten&Ten exchange services stopped transaction support on April 15 and the last date to withdraw crypto assets is April 22 at 10:00 KST.
The virtual asset service provider (VASP) Ten&Ten helped the crypto exchange o
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