South Korea’s FIU to target more crypto exchanges with sanctions after Upbit fine

South Korea's Financial Intelligence Unit (FIU) is preparing to impose sanctions on cryptocurrency exchanges that fail to comply with anti-money laundering (AML) regulations. This decision underscores the government's commitment to maintaining the integrity of its financial system amidst growing concerns over compliance failures in the crypto sector.

Upbit is reportedly seeking an initial public offering (IPO) on Nasdaq following its recent merger with Naver, as reported by Bloomberg. This move marks a significant step for Upbit, a major player in the cryptocurrency exchange market, as it aims to expand its operations and enhance its market presence.

India is set to launch a rupee-backed stablecoin, marking a significant shift in its approach to digital currencies, diverging from the Reserve Bank of India's cautious stance on cryptocurrencies. This development is part of a broader trend in Asia as countries adapt their regulatory frameworks to accommodate the growing influence of digital assets.