Upbit deposit 5 trillion… 5 times difference from 2nd place

The number of users more than doubled all other companies
Anti-monopoly fears grow after the enforcement of the Special Act

It was found that the customer deposits and number of users of Upbit, a virtual currency exchange, differed by several orders of magnitude compared to other large exchanges. As the number of exchanges that will meet the reporting requirements of the Specific Financial Information Act (Special Provisions Act) is expected to be in the minority, including Upbit, the industry is concerned about a monopoly.

According to data received from four major exchanges, including Upbit, Bithumb, Coinone, Korbit, by Rep. Yoon Doo-hyeon, a member of the National Assembly’s Political Affairs Committee, on the 29th, the balance of deposits by Upbit users to buy coins was 5.267.8 trillion won. am. It is 5.1 times larger than the deposit of Bithumb (1.349 trillion won), which is the second largest transaction after Upbit. Compared to Coinone (247.62 billion won) and Korbit (68.54 billion won), they are 21 times and 77 times higher, respectively.

In terms of users and number of transactions, Upbit is overwhelming. As of the end of last month, Upbit had 4,075,721 users, more than double the number of Bithumb (1,306,586), Coinone (54,798), and Korbit (10856) combined. In accordance with the Special Money Act, existing exchanges can operate only after meeting certain requirements such as obtaining ISMS certification and issuing real-name deposit and withdrawal accounts by the 24th of next month. However, Upbit is currently the only exchange that has submitted a business report by meeting the requirements among the 21 sites that have received ISMS certification. Reporter Ja-Hyun Kim [email protected]Go to press page>

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