Episode Details

South Koreas Financial Intelligence Unit imposes record fine and partial ban on crypto exchange Bithumb for AML compliance failures. The ban, from March 27 to September 26, restricts new users from sending crypto to external wallets. Existing users face no trading limits, and newcomers can still buy, sell, or move Korean won. Regulators had warned Bithumb about unregistered overseas firms, but the exchange ignored warnings and failed to block risky transactions. This move aligns with a broader regulatory push against money laundering in South Koreas crypto sector, with other exchanges facing similar penalties.

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