Foresight News|Jul 13, 2026 02:21
[Former Assistant to South Korean Independent Lawmaker Suspected of Pressuring Upbit to Increase Stablecoin Fees to Support Bithumb]
Foresight News reports, according to *The Kukmin Daily*, that a former assistant to South Korean independent lawmaker Kim Byung-ki is suspected of pressuring Upbit through the Financial Supervisory Service during their tenure, demanding the termination of stablecoin trading fee discount promotions, allegedly to support Bithumb. In February last year, the individual reportedly requested Upbit to 'normalize' stablecoin fees, after which Upbit ended the related promotions at the end of February. Kim Byung-ki's second son interned at Bithumb from January to June last year, and the individual in question transitioned to an informal advisory role at Bithumb seven months later.
The Seoul Metropolitan Police Agency's Public Crime Investigation Unit has launched an investigation based on the testimony of the individual, focusing on whether there were any solicitations involved in the transition to Bithumb and the relationship with lawmaker Kim Byung-ki's activities.
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