The South Korean regulatory authorities imposed a fine of 35.2 billion won on Upbit operator Dunamu

The Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission has imposed a fine of 35.2 billion won (approximately 26.4 million USD) on Dunamu, the operator of the cryptocurrency exchange Upbit, for violating the Specific Financial Information Act. The violations include prohibiting transactions with unreported virtual asset operators, failing to fulfill customer due diligence obligations, not implementing transaction restrictions, and not reporting suspicious transactions. Dunamu stated that it accepts the decision.