Dunamu Wins Approval to Use Govt Data for Upbit KYC Checks

Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, has become the first domestic virtual asset exchange to be approved to use the government's shared administrative information system. This approval will allow Upbit to verify customer information more efficiently during Know Your Customer (KYC) checks.

The designation was granted after an on-site inspection by the Ministry of the Interior and Safety in May and a review of Dunamu's compliance with the required conditions. The new access gives Dunamu another source for verifying user information, reducing the need for customers to submit supporting documents during KYC checks.

This move comes after Upbit faced regulatory scrutiny over its customer verification controls. In January 2025, the Financial Intelligence Unit raised concerns over alleged failures involving KYC and anti-money laundering requirements, leading to a procedural sanctions notice and a requirement for Dunamu to submit its response.