Upbit will restrict employees and their immediate family members from trading on the platform.

Wu learned that, according to Decenter, Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, announced the release of the first transparency report in the South Korean cryptocurrency industry to comply with the implementation of the Virtual Asset User Protection Act. According to the report, Dunamu will restrict employees and their immediate family members from selling and exchanging cryptocurrencies on Upbit to maintain the fairness of trading order, enhance investor confidence, and has established the Upbit Market Observation System (UMO) to prevent price manipulation on Upbit. In addition, Dunamu plans to release a transparency report on the Upbit website annually.