Upbit Halts Foreign Withdrawals Due To Tax And KYC Issues

According to  Jinse report published, many Chinese Upbit users are facing difficulties to withdraw Korean Won since December. In an announcement, South Korean crypto Upbit has explained to its foreign users the reasons behind their withdrawals are still restricted. Upbit said in the announcement the two main reasons the restriction is the (Know Your Customer) KYC and Korean taxation on cryptocurrency among crypto exchanges.

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