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South Korean exchange Upbit announced it will suspend cryptocurrency deposits and withdrawals of more than 1 million won ($740) involving Coredax starting at 4:00 a.m. UTC on Oct. 6.
Upbit said the move follows the suspension of Coredax’s use of a Travel Rule compliance solution service, making transfers above that threshold unavailable. The exchange added the measure was based on a risk assessment, and such transfers will also be excluded from manual deposit approval through proof-of-deposit submissions.