[Notice] Statement on the news ‘Thailand welcomes Upbit after its Korean exit

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-Statement on the news ‘Thailand welcomes Upbit after its Korean exit

We would like to provide clarifications regarding the news article ‘Thailand welcomes Upbit after its Korean exit’ published by the Coinjournal on August 14, 2020. We tried our best to get in touch with the Coinjournal in all possible ways to correct the article, but have not received any responses from them. Therefore, we would like to clarify facts about global operations of Upbit by this posting.

The Coinjournal suggested Upbit decided to exit its Korean business due to the regulatory changes in Korea and started to find another safe harbour in Thailand. However, Upbit did not exit Korea, rather expanded its business to Thailand. Upbit is operating regulated digital asset exchange not only in Korea, but also in Singapore, Indonesia and Thailand.

Upbit launched ‘Upbit Thailand’ on January 20, 2021 by being granted full regulatory approval from the Thailand Securities and Exchange Commission (SEC) on all four licenses of digital asset intermediary business (cryptocurrency exchange & broker, digital token exchange & broker) upon the successful completion of an audit from the SEC.

Upbit will always maintain a high level of transparency and sound trading environment.

Thank you.

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