Korea let a crypto exchange pull government records for KYC instead of asking for documents
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Dunamu, operator of South Korea’s Upbit exchange, announced on 26 August 2026 that it had become the country’s first digital asset exchange designated by the Ministry of the Interior and Safety as an administrative information sharing institution following a May inspection. Under the Electronic Government Act, the designation makes Dunamu eligible to apply for access to specific government-held records for purposes such as KYC, potentially replacing customer-uploaded documents with direct, consent-based verification from official sources. However, designation alone does not grant unrestricted data access: each request must specify its purpose and scope, may require approval from the data-holding agency and the Personal Information Protection Commission, and requires the customer’s prior consent for personal data. Dunamu says it is still preparing the service and has not disclosed when it will launch or which records it will use. Direct government-record checks may reduce document friction and improve record accuracy, but they do not confirm that the person using an account is the person named in the records, leaving face matching, liveness checks, and anti-money-laundering obligations with the exchange.
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