On August 26, according to the Korea Herald, South Korean cryptocurrency exchange operator Dunamu has been designated by the Ministry of the Interior and Safety as a “Joint Utilization Agency for Administrative Information,” becoming the first cryptocurrency exchange operator in South Korea to obtain this qualification. The Ministry of the Interior and Safety completed on-site inspections and qualification reviews in May of this year and made the designation decision this month.

Dunamu plans to use this system for user identity verification (KYC), reducing the process of users repeatedly submitting proof materials by accessing relevant administrative information, thereby improving the efficiency of account opening and account verification.