South Korean encryption exchange Upbit announced that the South Korean Digital Asset Exchange Joint Advisory Agency (DAXA) member exchange plans to terminate the transaction support for Paycoin (PCI), and Upbit will delist Paycoin (PCI) on April 14. The reason for the termination of transaction support is that on January 6, 2023, the Financial Intelligence Unit of the Korean Financial Services Commission stated that it did not accept the virtual asset operator change report of Paycoin issuer Pay Protocol, and believed that Pay Protocol did not meet the reporting requirements stipulated in the Specific Financial Information Act. Later, Paycoin also failed to complete the report after extending the deadline once. In order to protect investors, Upbit decided to terminate the transaction support for Paycoin.