Bitcoin News Today: Upbit Lists API3 as South Korean Crypto Regulation Evolves

Upbit, South Korea’s prominent cryptocurrency exchange, announced on August 19, 2025, the listing of API3 (KRW and USDT pairs) as part of its ongoing efforts to expand altcoin offerings. The listing follows a period of regulatory adjustments within the country, where the Financial Services Commission (FSC) recently ordered a temporary suspension of crypto lending services due to legal uncertainties and investor risk concerns [1].

According to the official statement, API3 deposits and withdrawals will only be supported via the Ethereum network, with a warning that transactions sent using the incorrect network could delay the refund process. Trading is set to begin at 5:00 PM on the same day. The last closing price of API3 on the BTC market was 0.00000741 BTC, valued at approximately 1,197 KRW or 0.8605 USDT [1].

To ensure price stability during the listing phase, Upbit has imposed several restrictions, including a five-minute buy order freeze and a 10% price floor for sell orders based on the previous closing price. Limit orders will be the only valid order type for the first two hours of trading [1]. API3, a project focused on developing a decentralized API for Web 3.0, aims to eliminate the need for centralized intermediaries by integrating blockchain technology into traditional API services. Experts suggest that the listing could boost visibility for Web3 infrastructure projects in the Korean market [1].

The timing of the API3 listing coincides with a broader regulatory shift in South Korea. In July 2025, the FSC mandated that major exchanges halt crypto lending operations due to the risks associated with liquidation and fraud. Over 27,600 investors borrowed around $1.1 billion in the first month of one major lending service’s launch, with 13% facing liquidation due to volatility [1]. Although the government under President Lee Jae-Myung has shown a more favorable attitude toward crypto compared to previous administrations, regulators continue to take cautious and reactive measures.

The South Korean crypto market remains active despite regulatory headwinds. Recent listings on Upbit, such as CYBER and MANTRA (OM), have seen significant price surges, with CYBER rising 150% and MANTRA (OM) increasing by 15.7% [1]. These movements reflect the high volatility and speculative nature that often characterize altcoin trading on the platform.

Analysts note that South Korean exchanges are likely to remain influential in the global crypto market due to the country’s strong digital infrastructure and growing institutional interest. However, operators must balance innovation with regulatory compliance, especially in a landscape where rules are still evolving [1]. The FSC’s decision to suspend lending services and introduce stricter oversight highlights the ongoing uncertainty for market participants.

The API3 listing underscores the active role South Korean exchanges are playing in supporting emerging projects, even amid regulatory scrutiny. It also demonstrates how exchanges are adapting to new conditions, offering new products while managing regulatory expectations [1].

Source:

[1] Bitcoin: [Listing News Continues on South Korean Exchanges](https://en.bitcoinsistemi.com/listing-news-continues-on-south-korean-exchanges-upbit-announces-new-altcoin-listing-here-are-the-details/)

[2] Crypto: [South Korean FSC Order Suspension of Crypto Lending](https://crypto.news/south-korean-fsc-order-suspension-of-crypto-lending-services-heres-why/)

[3] Coinbase: [Upbit's MANTRA (OM) Listing Triggers 15.7% Surge](https://www.coinbase.com/en-es/price/mantra-dao)