Gemini, a prominent cryptocurrency exchange backed by the billionaire Winklevoss twins, has recently embarked on a significant move towards going public. The platform marked its ambitions through a confidential submission to the U.S. Securities and Exchange Commission (SEC), seeking an initial public offering (IPO). This strategic maneuver aligns with the current bullish sentiment surrounding digital currencies and related sectors, especially following the remarkable debut of stablecoin issuer Circle Internet Group Inc $CRCL.

In early January 2025, South Korea's leading cryptocurrency exchange, Upbit, found itself under scrutiny following an order to halt operations. The directive came from the country's Financial Intelligence Unit (FIU) amid accusations of anti-money laundering (AML) violations. The primary concerns revolved around the non-compliance with know-your-customer (KYC) procedures. According to a report by Maeil Business Newspaper, inspections revealed approximately 700,000 potential violations.