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Crypto

Upbit, Bithumb earnings slump as trading value falls, push to diversify in H2

South Korea\'s digital asset trading market has contracted, sharply reducing first-half results at leading exchanges Upbit and Bithumb. Dunamu, which operates Upbit, said operating profit fell about 80 percent from a year earlier, while Bithumb\'s operating profit dropped more than 80 percent and it posted a net loss amid digital asset valuation losses. The two firms are expanding services and preparing for corporate clients while boosting compliance and security investment.

Crypto

Countdown to amended Special Financial Information Act puts digital asset industry focus on governance reshuffle

South Korea will implement an amended Special Financial Information Act on Aug. 20, expanding screening of digital asset operators to include major shareholders and governance structures. An enforcement decree allows exceptions when violations are minor or punished under vicarious liability rules, easing some uncertainty around Naver Financial and Dunamu’s share-swap plan. Regulators will also tighten requirements on leverage, creditworthiness and internal controls, likely increasing compliance burdens for smaller operators.

Crypto

Dunamu expands youth self-reliance support; 4,122 aided over 3 years

Dunamu said on Tuesday it has supported a total of 4,122 young people over the past three years through its Upbit Next Series, a programme aimed at credit recovery and economic self-reliance. The three-stage initiative links credit recovery, asset building and job connections. Its Upbit Next Series: Didim has aided 936 people, providing financial consulting, living expenses support and zero-interest loans. Dunamu said mentoring indicators improved in a third-year analysis.