Upbit owner Dunamu could see ‘monopoly’ curbed after investment controversy

2022.04.22 05:56

Upbit owner Dunamu could see ‘monopoly’ curbed after investment controversy

The operator of South Korean crypto exchange Upbit, Dunamu, is facing pushback from regulators due to a controversial investment while authorities move to issue restrictions to stifle its monopolistic position.

Dunamu’s total assets are valued at over over 10 trillion KRW ($8.06 billion) and Upbit controls an overwhelming 80% of the domestic trading volume. As a result, regulators see Dunamu and by extension Upbit, as a monopoly with too much power that should be curtailed.

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