logo

South Korea's FIU to Sanction Multiple Cryptocurrency Exchanges

By: theblockbeats.news|2025/11/24 11:45:58
0
Share
copy

BlockBeats News, November 24th, the Financial Intelligence Unit (FIU) under the South Korean Financial Services Commission is expected to impose sanctions on Korean domestic cryptocurrency exchanges such as Korbit, Gopax, Bithumb, Coinone, following Dunamu. Sanctions against domestic virtual asset trading platforms for violating anti-money laundering obligations in South Korea are expected to proceed one after another. Currently, the sanction process is undergoing legal review and sanction deliberation committee meetings.

The misconduct of the exchanges, such as KYC violations and suspected unreported transactions, is generally similar, so the sanctions are expected to be relatively consistent. In February of this year, the FIU issued a warning to the representative of Dunamu for violating the Special Financial Transactions Act, imposing moderate penalties such as a 3-month suspension of new customer deposits and withdrawals, followed by a fine of 35.2 billion Korean won. It is difficult for the FIU to complete the sanctions within the year, and it is expected that the majority of the sanctions will be completed in the first half of next year.

You may also like

The new center of Crypto

But the market is constantly evolving. By 2026, companies that can adapt to the new environment will survive, while those that continue to rely on the old script may face the fate of elimination.

Former Coinbase CPO's lengthy article: I have regrets, but I still firmly believe in Crypto

People often fantasize that wealth comes from catching every new wave. Sometimes this is true. But more often, wealth comes from riding a real wave and not blindly paddling away every time the water splashes around.

Hormuz Strait Triggers Oil War, Will the Fed Blink with a Rate Cut in June?

Polymarket data shows that the current market is betting a 64% probability of an interest rate cut in June this year, with the probability rising to 81% for September.

After Law Enforcement in the US and the UK Seized Cryptocurrency, ‘Asset Return’ Never Really Happened

The digital assets that should have been returned to the victims have quietly flowed into government treasuries, strategic reserve funds, and law enforcement agencies' operational budgets.

Why Does Everyone Hate AI?

AI and Silicon Valley's PR Crisis

Kyle Samani Returns to Crypto? Post Discusses How to Efficiently Weed Out CEX

The beauty of PropAMM on Solana is that the blockchain itself directly "hosts" the liquidity provider algorithm.

Popular coins

Latest Crypto News

21:42

Data: 81,014,200 WLFI transferred from an anonymous address, valued at approximately 8.22 million USD

According to Arkham data, between 20:34 and 20:36, three large WLFI transfers occurred, totaling 81,014,200 WLFI (approximately worth $8.22 million), all transferred from anonymous addresses:At 20:34, 35,714,300 WLFI (worth approximately $3.62 million) was transferred from an anonymous address (star...
21:42

AI procurement automation startup Oro Labs has completed a $100 million Series C funding round, led by Goldman Sachs

Silicon Valley AI procurement automation startup Oro Labs announced the completion of a $100 million Series C funding round, led by Goldman Sachs Growth Equity and Brighton Park Capital, with existing investors Norwest Venture Partners, B Capital, XYZ Capital, and Felicis participating in the round....
21:42

U.S. CFTC Chairman: Will issue clear guidance on prediction markets to prevent manipulation and insider trading

The chairman of the Commodity Futures Trading Commission (CFTC), Mike Selig, stated, "Today, we are taking action to release clear guidelines for prediction markets to help trading platforms understand the CFTC's expectations for new contract listings. We are taking on the responsibility of ensuring...
21:42

Data: The current whale position on the Hyperliquid platform is $3.532 billion, with a long-short ratio of 1.02

According to Coinglass data, the current whale holdings on the Hyperliquid platform amount to $3.532 billion, with long positions of $1.787 billion, accounting for 50.58% of the holdings, and short positions of $1.746 billion, accounting for 49.42%. The profit and loss for long positions is -$34.041...
21:42

Bitcoin infrastructure company Ark Labs has completed a $5.2 million seed round financing, with participation from Tether

According to The Block, Bitcoin infrastructure company Ark Labs has completed a $5.2 million seed round financing, with participation from institutions such as Tether, Ego Death Capital, and Epoch VC, as well as Anchorage Digital and former PayPal Vice President of Finance Ralph Ho.
Read more
Community
iconiconiconiconiconiconicon

Customer Support Bot：@WEEX_support_smart_Bot

VIP Services：support@weex.com