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      Upbit Suspends Large Digital Asset Transactions with BitMEX

      Upbit, a major cryptocurrency exchange based in South Korea, has announced the suspension of deposits and withdrawals for digital assets valued at 1 million Korean Won or more in transactions with BitMEX, effective October 16, 2026. This decision comes in response to BitMEX's termination of its integration with the travel rule solution VerifyVASP, which is designed to enhance compliance in cryptocurrency transactions.

      While transactions below the threshold of 1 million Korean Won will continue to be processed normally, Upbit has specified that manual deposits exceeding this amount from BitMEX will be halted starting at 14:00 on December 18, 2026. Users attempting to deposit assets above this limit after this time will need to follow a refund process to retrieve their funds.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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