Golden Finance reported that Upbit issued a clarification on some information about regulatory sanctions, which pointed out that 30,000 fake ID cards (including hand-painted ID cards) were allegedly passed the "Know Your Customer" (KYC) system and that Upbit passed the "Know Your Customer" (KYC) system. Several additional programs including identification are used to perform KYC. If the member submits insufficient ID documents, it will be required to re-execute. Previously, the South Korean Financial Intelligence Agency (FIU) announced on February 25 that it would implement regulatory measures against South Korean cryptocurrency exchange Upbit. According to regulations, Upbit will be restricted from newly registered users' cryptocurrency recharge and withdrawal services within the next 3 months.