Dunamu Designated As Conglomerate, Will Be Obliged to Execute Public Disclosure

Dunamu, the operator of Korea’s biggest virtual asset exchange Upbit became Korea’s first VASP to be designated as a conglomerate. Dunamu will be obliged to execute public disclosure. Partner attorney Ohoon Kwon (권오훈) commented that “applying separate standard on virtual asset exchanges that manage customers’ assets on a different account is discrimination.” Moreover, Ohoon Kwon criticized that the Act on Reporting and Using Specified Financial Transaction Information sees VASPs as financial corporates but the Act is imposing unnecessarily complicated regulations. [Pinpoint News 2022.04.27.]

URL: Dunamu Designated As Conglomerate, Will Be Obliged to Execute Public Disclosure