duna

Dunamu's Vice Chairman Kim Hyung-nyun stated at the Seoul Digital Asset Policy Conference that the stock tokens of South Korea's representative companies, Samsung Electronics and SK Hynix, can only be traded overseas. This situation is distressing. He also officially announced that Dunamu has completed the technical preparations for stock tokenization, and relevant services can be launched at any time once the regulatory system allows.In addition, the conference also discussed the legislative process of the "Basic Law on Digital Assets." South Korea's Democratic Party member Min Byung-deok advocated that the bill should be passed in the current regular National Assembly, no later than January 18 of next year. South Korea's People Power Party member Park Soo-min stated that legislation should not be rushed and called for a comprehensive allowance for institutions and legal entities to invest in crypto assets.

According to a report by the Korean News Agency, Kim Hyung-nyeon, Vice Chairman of Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, stated at the digital asset policy conference "DICON" held in Yeouido, Seoul, that South Korea's representative stocks, Samsung Electronics and SK Hynix, can only be tokenized and traded on overseas exchanges, "This matter itself is very painful."The report noted that as one of the co-founders of Dunamu, Kim Hyung-nyeon rarely speaks in public. He mentioned that there are many issues that need to be considered recently, and as long as the regulatory system is designed properly, Dunamu will do its best to become a global player representing South Korea. On the same day, Dunamu CEO Oh Kyung-sik stated in his opening speech that the digital asset industry is at a critical juncture where opportunities and challenges intertwine, and major countries have begun to view digital assets as important factors for financial innovation and national competitiveness.During the discussion, ruling party member Min Byung-deok stated that the postponement of virtual asset taxation has made all parties clearly recognize the necessity of the "Basic Law on Digital Assets," which must be passed in this regular National Assembly session, no later than January 18 of next year. He also advocated for allowing institutions and legal entities to invest in virtual assets comprehensively, arguing that according to the spirit of the South Korean Constitution, individuals and legal entities should not be treated differently.

According to Digital Asset, the Civil Division 63 of the Seoul Central District Court in South Korea dismissed all lawsuits filed by Dunamu, the operator of South Korea's largest cryptocurrency exchange Upbit, against its competitor, the second-largest cryptocurrency exchange Bithumb, and ordered Dunamu to bear all litigation costs.Previously, Dunamu accused Bithumb of copying its API documentation and sought compensation of approximately 200 million Korean won (about 140,000 USD).

According to a report by the Korean News Agency, Dunamu, which operates the virtual asset exchange Upbit, will participate in the "2026 National Assembly Legislative Expo" held at the National Assembly in Yeouido, Seoul, for two days starting from November 5.Dunamu is showcasing under the slogan "The value of digital assets, safely passed on to the next generation," proposing improvements to the system to protect virtual asset inheritance that is currently in a regulatory blind spot. Its core task is to quickly protect the virtual assets of the deceased and make it easier for heirs to locate them.A related person from Dunamu stated that virtual assets are still in a regulatory protection blind spot during the inheritance process and hopes that this policy proposal will serve as an opportunity to establish a foundational system.

a16z Chief Legal Counsel Miles Jennings posted on X that the U.S. Securities and Exchange Commission (SEC) has released new FAQs that further clarify its token classification framework. He pointed out that Question 1.4 clearly states that systems can maintain decentralized governance and use legal entities such as DUNA; Question 1.5 distinguishes between licensed and unlicensed systems; and Question 1.6 clarifies the difference between "functional" and "decentralized."The SEC's Division of Corporation Finance updated the relevant Q&A on November 2. The response to Question 1.4 states that participants in a widely governed functional crypto system, if not interconnected and without formal or informal collaborative arrangements other than participating in that governance system, typically do not constitute a group of persons or entities defined as "centralized parties"; even if they do form such a group, they must still possess operational, economic, or voting control to meet the definition of "centralized parties." This conclusion also applies to cases where the governance system belongs to an organization, association, or foundation, and participation is based on holding native crypto assets.The response to Question 1.5 states that centralized party oversight of participants refers to the authority to control access to the system at the protocol, validator, or user level, such as unilaterally granting or restricting access, deciding on upgrade voting procedures, controlling who can participate in consensus, or modifying rule code, revoking transactions, and access. The response to Question 1.6 states that "functional" refers to native crypto assets being usable according to the system's programmed purposes, while "decentralized" refers to the system operating autonomously without any person, entity, or group having operational, economic, or voting control; the two are distinct concepts. The above responses represent the views of the staff of the Division of Corporation Finance and do not constitute SEC rules or statements.

The South Korean cryptocurrency exchange Upbit officially announced the digital asset holdings of its parent company Dunamu's investment subsidiary Dunamu&Partners as of October 2026. The announcement shows that the institution currently holds 2,081.84950412 BTC, with a total selling quantity of zero and no trading records.According to the announcement, Dunamu&Partners stated that if the projects it invests in are listed for trading on Upbit, it will not sell the related digital assets within three months from the date of the first listing, and will disclose changes in holdings at the end of each month through announcements on Upbit.

According to a report by the Korean News Agency, South Korean credit card company Shinhan Card announced that it will collaborate with Upbit's parent company Dunamu to launch a pilot program for token payments based on GIWA Chain in the South Korean credit card industry for the first time. The testing will take place at Shinhan Card's headquarters, where employees will receive tokens issued by Shinhan Card through the GIWA Wallet and complete payments by scanning a QR code.The system uses on-chain identity verification technology Dojang to verify employee identities, allowing only pre-registered wallets to participate in transactions. Shinhan Card stated that it plans to promote commercialization after the relevant legislation is completed and gradually expand the access scope for merchants and the global blockchain network.

Global cryptocurrency payment company MoonPay announced that it is advancing strategic cooperation with Dunamu, the parent company of South Korea's largest cryptocurrency exchange Upbit, to jointly explore new business opportunities. The two parties will collaborate to discover new business directions in areas such as stablecoin cross-border payments and capital flow, corporate finance, and fund management.They also plan to expand the global accessibility of Dunamu's Ethereum Layer 2 network GIWA and enhance the network's global connectivity. Specifically, both parties hope to connect MoonPay's global services and network with Dunamu's blockchain infrastructure to expand the coverage of GIWA-based products and services in overseas markets.Dunamu is the operator of South Korea's largest cryptocurrency exchange Upbit and is currently advancing a stock swap merger with tech giant Naver Financial to launch a joint stablecoin and payment service. Earlier this year, Hana Bank acquired a 6.55% stake in Dunamu for 1 trillion won (approximately 755.6 million USD) to advance its layout in the stablecoin and digital asset fields. South Korea is also formulating a comprehensive cryptocurrency framework called the "Basic Law on Digital Assets," which includes rules for the issuance and distribution of stablecoins pegged to the Korean won.

According to a report by the Korean News Agency, the stock exchange transaction between Upbit's parent company Dunamu and NAVER Pay, a subsidiary of South Korean internet giant NAVER, may have uncertainties. Data disclosed by the Legislative Investigation Office of the Korean National Assembly indicates that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, necessitating an adjustment of the governance structure. The Korean Fair Trade Act stipulates that a holding company's shareholding ratio in listed subsidiaries must not be less than 30%, and for non-listed subsidiaries, it must not be less than 50%; for venture capital holding companies, it is 20%. Additionally, the second phase of discussions on South Korean virtual asset legislation also involves setting a shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

According to a report by Yonhap News Agency, the stock swap transaction between Upbit's parent company Dunamu and a subsidiary of South Korean internet giant NAVER may have uncertainties. Data disclosed by the Legislative Investigation Office of the National Assembly of Korea shows that the related transaction may simultaneously face the minimum shareholding ratio for subsidiaries stipulated by the Fair Trade Act, as well as the maximum shareholding ratio limit for major shareholders of virtual asset exchanges.Currently, NAVER Pay does not seem to belong to a holding company, but if it becomes a holding company in the future and includes the exchange as a subsidiary, there may be a situation where two conflicting shareholding standards apply simultaneously, thus requiring adjustments to the governance structure. The Fair Trade Act of Korea stipulates that a holding company must hold at least 30% of the shares in listed subsidiaries and at least 50% in non-listed subsidiaries; for venture capital holding companies, the requirement is 20%. The second phase of discussions on South Korean virtual asset legislation also involves the maximum shareholding limit for major shareholders of exchanges to reduce the concentration of control and the risk of conflicts of interest among specific shareholders.

Upbit's parent company Dunamu has signed a strategic partnership with Visa, and the two parties will collaborate on stablecoins and AI-based financial services. At the same time, the two companies are also exploring the integration of Open Standard's OUSD into future business models.This collaboration was announced just two days after Visa reached a partnership with South Korea's Shinhan Bank, also focusing on stablecoins and AI-related fields. Dunamu, as the operator of South Korea's major digital asset trading platform Upbit, aims to promote the application of stablecoins and the layout of intelligent financial products by partnering with the global payment giant.

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.

According to South Korean media NATE, Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, responded to rumors of a U.S. listing, stating that the company has indeed been in contact with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), but has not yet confirmed a U.S. listing and has not converted its financial statement accounting standards to U.S. Generally Accepted Accounting Principles (US GAAP).Dunamu stated that it had previously only compared and understood the differences between Korean accounting standards and US GAAP, and is currently planning to complete a share exchange with Naver Financial by December 31. After the transaction is completed, both parties plan to establish an IPO committee and promote the listing within a year, but the specific country and market for the listing have not yet been determined. Market analysts believe that if a U.S. listing ultimately occurs, Dunamu and Upbit's Korean legal entity and existing business will remain unchanged, and it is expected that they may adopt the American Depositary Receipt (ADR) method.

Upbit operator Dunamu announced its performance for the second quarter of 2026, with quarterly revenue of 173.5 billion won (approximately 12.3 million USD) and operating profit of 23.5 billion won (approximately 1.665 million USD), a decrease of about 26% and 73% respectively compared to the first quarter.In the first quarter, Dunamu's revenue was 234.6 billion won (approximately 16.6 million USD) and operating profit was 88 billion won (approximately 6.234 million USD). Dunamu stated that the decline in performance this quarter was mainly affected by the overall liquidity contraction in the global digital asset market, leading to weakened investor sentiment.

The Korean National Police Agency has selected Upbit's parent company, Dunamu, through public bidding to be responsible for the custody of seized virtual assets, with a contract period of 1 year.The confiscated digital assets will be managed through the digital asset custody service Upbit Custody, responding in real-time to regulatory infrastructure and conducting custody and management within 365 days. This service employs 100% offline cold wallets, 24/7 monitoring, and introduces MPC, DKG multi-key management, and multi-signature technology to ensure asset isolation and security.

According to South Korean media Asiae, the operator of the South Korean cryptocurrency exchange Upbit, Dunamu, announced that it has made an additional investment in the medical big data company Inocras through its investment subsidiary Dunamu & Partners, bringing the total investment amount to 14.5 billion Korean won.

Samsung SDS stated in its earnings call that its strategic investment in the South Korean cryptocurrency exchange Dunamu is a "strategic layout for entering the digital asset infrastructure business." Both parties are discussing cooperation on stablecoin infrastructure, next-generation AI payments, and virtual asset financial system integration (SI). Samsung SDS President Lee Joon-hee mentioned that they will combine Dunamu's blockchain operation experience with Samsung SDS's capabilities in IT services, AI, cloud computing, and security to strengthen the digital financial infrastructure business.The earnings report disclosed on the same day showed that Samsung SDS's revenue for the second quarter was 3.7178 trillion won (approximately 2.6 billion USD), a year-on-year increase of 5.9%; operating profit was 231.8 billion won (approximately 160 million USD), a year-on-year increase of 0.7%. Among them, the cloud computing business revenue was 779.4 billion won, a year-on-year increase of 17%, with external cloud computing business revenue surging 75% year-on-year. The company plans to expand its AI infrastructure from the current 110MW to 230MW by 2029, and further expand to over 800MW by 2031. Samsung SDS previously announced an investment of approximately 20 billion won in Dunamu in May 2024.

According to the Korea Herald, South Korea's financial regulatory agency has issued an investigation report to Upbit's operator Dunamu, initiating sanction procedures. Previously, the company suffered a hacking incident involving 44.5 billion won.Since the incident occurred, the Financial Supervisory Service (FSS) has been investigating whether there were violations of the "Virtual Asset User Protection Act." However, as there are currently no direct penalties for hacking incidents or computer system failures, it remains uncertain whether this will lead to severe disciplinary actions. The Financial Supervisory Service plans to notify the company in advance of the sanction opinion letter, which includes the level of sanctions, after the company provides an explanation. Subsequently, the final sanction measures will be determined by resolutions from the Sanction Review Committee, the Securities and Futures Commission, and the Financial Services Commission.