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The South Korean regulator slapped Korbit with a compliance punishment arsenic the crypto speech conducts talks to beryllium bought by Mirae Asset.
Dec 31, 2025, 12:47 p.m.
Korbit, the South Korean crypto speech successful talks to beryllium bought by Mirae Asset, was fined 2.73 cardinal won ($1.9 million) by the country's regulator for aggregate anti money-laundering and lawsuit verification breaches.
The Financial Intelligence Unit said the exchange violated cardinal provisions of the country’s Special Financial Transactions Act, including lapses successful lawsuit due-diligence and transaction restrictions. In summation to the fine, it imposed an organization informing and issued idiosyncratic disciplinary measures against elder Korbit executives, it said Wednesday.
The enforcement enactment comes arsenic Mirae Asset, a Seoul-based fiscal radical with nary anterior engagement successful crypto-related businesses, holds talks to get a bulk stake successful Korbit successful a woody reported to beryllium worthy arsenic overmuch arsenic $98 million.
The FIU besides " decided to enforce sanctions connected related executives and employees, including a informing to the CEO and a reprimand to the idiosyncratic liable for reporting,” the regulator's announcement said.
The FIU said it conducted an on-site inspection of Korbit successful October 2024 and recovered thousands of anti money-laundering (AML) and know-your-customer (KYC) verification violations.
It noted that the enforcement enactment is portion of its efforts successful “strengthening anti-money laundering capabilities and ineligible compliance systems of businesses truthful that the virtual plus marketplace tin turn with nationalist trust”. In November, the FIU issued Dunamu, the relation of Upbit, South Korea's largest crypto exchange, a $25 cardinal good and different sanctions for akin violations.
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