{"id":435469,"date":"2022-04-22T03:39:22","date_gmt":"2022-04-22T00:39:22","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/upbit-owner-dunamu-could-see-monopoly-curbed-after-investment-controversy\/"},"modified":"2022-04-22T03:39:22","modified_gmt":"2022-04-22T00:39:22","slug":"upbit-owner-dunamu-could-see-monopoly-curbed-after-investment-controversy","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/upbit-owner-dunamu-could-see-monopoly-curbed-after-investment-controversy\/","title":{"rendered":"# Upbit owner Dunamu could see &#8216;monopoly&#8217; curbed after investment controversy"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a405eb37c507\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a405eb37c507\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/upbit-owner-dunamu-could-see-monopoly-curbed-after-investment-controversy\/#%E2%80%9D_Upbit_owner_Dunamu_could_see_%E2%80%98monopoly_curbed_after_investment_controversy_%E2%80%9C\" >&#8221; Upbit owner Dunamu could see &#8216;monopoly&#8217; curbed after investment controversy &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Upbit_owner_Dunamu_could_see_%E2%80%98monopoly_curbed_after_investment_controversy_%E2%80%9C\"><\/span>&#8221; Upbit owner Dunamu could see &#8216;monopoly&#8217; curbed after investment controversy &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjdhYzdiNzctN2QwOC00ZjlkLWE5YmEtZmFkMWYwYjk5YWJiLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-2a0745c6>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.<\/p>\n<p>Dunamu\u2019s 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.<\/p>\n<p>Regulators could prevent its growth by designating it a large corporation which would restrict its market activities.<\/p>\n<p>Large corporations and investment firms in South Korea are subject to strict rules on what information they can share regarding investments under the Capital Markets <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/elaw.klri.re.kr\/eng_service\/lawView.do?hseq=43324&amp;lang=ENG\">Act<\/a>. Corporations and their subsidiaries are prohibited from promoting investments, especially those they own or are related to.<\/p>\n<p>Dunamu has been criticized for taking advantage of an <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>arent loophole in the country\u2019s Capital Markets Act by holding a 40% stake in market tracking firm <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/triger.co.kr\/\">Triger<\/a> which started offering crypto-related investment recommendations in March. Dunamu has since dumped its shares in the company. <\/p>\n<p>A representative from Upbit told local <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/v.kakao.com\/v\/20220419121526657\">outlet<\/a> Culture Journal on April 19 that it had dropped all of its subsidiary holdings of Triger, but has still asked the site to take down its crypto-related content. The rep stated:<\/p>\n<blockquote><p>\u201cWe have requested the termination of the service to prevent unnecessary misunderstanding.&#8221;<\/p><\/blockquote>\n<p>Dunamu straddles the line between a large corporation and a financial investment firm under Korean law. Therefore, the firm is technically allowed to promote investments under the Capital Markets <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/elaw.klri.re.kr\/eng_service\/lawView.do?hseq=43324&amp;lang=ENG\">Act<\/a>. However, Culture Journal reported that an industry insider pointed to such promotional content as a regulatory loophole which \u201cshould be revised to improve the situation.\u201d<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Why NFT adoption is so high in South Korea<\/em><\/strong><\/p>\n<p>The firm\u2019s standing as a small or medium-sized enterprise (SME) is reportedly likely to change in the near future. Local news source NoCut News <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/v.kakao.com\/v\/20220420104218984\">reported<\/a> on April 20 that the Fair Trade Commission (FTC) was seriously considering designating Dunamu as a large corporation partially as a result of its recent activities and for its sheer size.<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"><\/template>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/upbit-owner-dunamu-could-see-monopoly-curbed-after-investment-controversy\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Upbit owner Dunamu could see &#8216;monopoly&#8217; curbed after investment controversy &#8220; 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\u2019s total assets are valued at over over 10 trillion KRW ($8.06 billion)&#8230;<\/p>\n","protected":false},"author":1,"featured_media":435470,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDQvNjdhYzdiNzctN2QwOC00ZjlkLWE5YmEtZmFkMWYwYjk5YWJiLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[89730,117,70934,72420],"class_list":["post-435469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-upbit","tag-business","tag-regulation","tag-south-korea"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435469","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=435469"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/435469\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/435470"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=435469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=435469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=435469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}