Woofun AI reports that a former assistant to South Korean independent lawmaker Kim Byung-ki is under suspicion for leveraging the Financial Services Commission to pressure Upbit. The individual allegedly demanded the normalization of stablecoin transaction fees in February last year, leading Upbit to terminate discounts by month's end, a move interpreted as support for rival exchange Bithumb.

The Seoul Police Agency’s Public Crime Investigation Team has initiated an inquiry based on witness testimony. Investigators are examining potential requests made during the aide’s transition to Bithumb, where Kim Byung-ki’s second son previously interned and later served as an informal advisor, to determine any links to political activities.