Dunamu Confirms Discussions with the SEC and CFTC Amid IPO Plans

According to Korean media outlet NATE, Dunamu, the parent company of South Korean cryptocurrency exchange Upbit, responded to rumors of a U.S. listing by stating that it has indeed engaged with the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), but has not yet decided on a U.S. listing nor transitioned its financial reporting standards to U.S. Generally Accepted Accounting Principles (US GAAP). Dunamu noted that it has only previously compared and assessed the differences between Korean accounting standards and US GAAP. The company currently plans to complete its share exchange with Naver Financial by December 31; following the transaction, both parties intend to establish an IPO committee within one year and advance toward a public listing, though the specific country and market for the listing have not yet been determined. Market analysts suggest that if Dunamu ultimately pursues a U.S. listing, its South Korean legal entity and existing operations will remain unchanged, and it may opt for an American Depositary Receipt (ADR) structure.