South Korean prosecutors raided the offices of Upbit, one of the world’s largest cryptocurrency exchanges.
As the need for self-regulation for crypto exchanges in South Korea increases, a local media disclosed that 23 out of the 33 crypto exchanges asked to undergo a review complied, while 10 refused.
The major conglomerates based in South Korea have been joining the cryptocurrency markets by either purchasing major cryptocurrency exchanges or buying shares in the exchanges.
Bitcoin bounces back from a 5-day rout when it slumped after South Korean explores banning exchanges. This rebound has drawn more investors.