Chairman of the Financial Services Commission of South Korea: Will review the monopoly of the virtual asset market centered on Upbit

According to ChainCatcher, Chairman Kim Byung-hwan of the Financial Services Commission of South Korea stated that they will review the monopoly of the virtual asset market centered around Upbit. During the National Assembly's government inspection, Kim Byung-hwan responded to inquiries from members of parliament regarding Upbit's monopolistic structure, stating that a comprehensive review will be conducted through the Virtual Asset Committee.The members of parliament also questioned the partnership between Upbit and K Bank, stating that Upbit's deposits account for 20% of K Bank's total deposits, which could lead to a run on the bank.