Upbit Ends Synthetix Trading Support Amid Regulatory Pressure

South Korea's largest cryptocurrency exchange, Upbit, will stop supporting Synthetix (SNX) on September 28. The decision comes after a warning issued by Upbit on August 7 when it added SNX to its caution list due to concerns over supply-plan changes and business authenticity.

The notice from August 28 states that the token carries unresolved issues that could harm users, and no appeal or remediation path was outlined. Instead of reinstating the asset, Upbit has decided to remove trading support for SNX on September 28 at 3:00 p.m. local time.

Withdrawals remain open for 30 days after the cutoff date, giving holders until October 28 to move their assets off the exchange. After that point, the exchange may no longer support the asset.