Dunamu, the operator of South Korean crypto exchange Upbit, has become the country’s first crypto exchange operator designated as eligible to use the government’s shared administrative information system. The Ministry of the Interior and Safety conducted an on-site inspection in May and completed its eligibility review before making the designation this month, Yonhap News Agency reported on Aug. 26. Dunamu plans to use government-held information in Upbit’s KYC procedures, reducing the supporting documents customers must submit and potentially making verification faster and more accurate. The approval comes as Dunamu faces continuing regulatory scrutiny over Upbit’s KYC and anti-money laundering controls, a wallet breach, and its pending share-exchange transaction with Naver Financial. Dunamu was also selected as the preferred bidder for a South Korean National Police Agency contract to custody seized virtual assets.