The Personal Information Protection Commission of South Korea is investigating the order book sharing behavior of Upbit and Bithumb
According to SBS Biz, the Personal Information Protection Commission of South Korea has launched an investigation into Upbit and Bithumb for sharing order books with overseas exchanges, focusing on whether there is any cross-border transfer of personal information in the process. The commission has completed written investigations and on-site inspections and is currently in the phase of determining legality, with results expected to be finalized in the second half of the year.
An order book is a list of buy and sell orders on an exchange, and sharing it with overseas entities can increase liquidity. However, if user identification information is transmitted along with it, it may violate personal information protection laws (cross-border transfers require user consent). It is reported that Upbit shares its order book with Southeast Asia's Upbit APAC and the Tether market, while Bithumb has shared its order book with Australia's Stellar.
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