[Digital Today reporter Sang-yeop Oh (오상엽)] Dunamu, the operator of Upbit, has been designated as an eligible institution for the Ministry of the Interior and Safety's shared use of administrative information, the first among domestic digital asset exchanges. The move is expected to reduce the burden on users to submit documents and cut verification steps at the exchange as public administrative information can be used in the know-your-customer (KYC) process.

Dunamu said on Tuesday it was designated as an eligible institution for shared use of administrative information by the Ministry of the Interior and Safety in mid-August.

The ministry carried out an on-site inspection of Dunamu in May and reviewed whether it met requirements before making the final designation.

Shared use of administrative information is a system that allows agencies to verify and use information held by administrative bodies through the government's computer network, without users having to submit required documents themselves during civil service requests or business processing.

Dunamu is the first domestic digital asset exchange to be included as an eligible institution. The designation sets a precedent for digital asset exchanges to use public data infrastructure in customer verification work.

Dunamu plans to use the shared administrative information service for Upbit's customer verification work based on the designation. It aims to reduce documents users must submit and streamline document checks and validation procedures.

A Dunamu official said, "As Upbit has been designated as the first eligible institution for shared use of administrative information, we have established a foundation to use public information safely and efficiently in user verification work," adding, "We will continue to provide convenient customer verification services."