Hana Bank's Crypto Investment Sparks Regulatory Scrutiny

Hana Bank has acquired a significant stake in Dunamu, the operator of Upbit cryptocurrency exchange, sparking controversy over its compliance with financial regulations.

Under current law, virtual asset service providers must report changes in their major shareholder composition to the Financial Intelligence Unit (FIU).

The deal is seen as a key test case for regulators' stance on the separation principle between finance and virtual assets. This principle, although not formally codified in law, has effectively functioned as a shadow regulation since emergency cryptocurrency measures were introduced in 2017.