Odaily Planet Daily News The Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission issued a sanctions announcement against the local encrypted financial company Delio, ordered Delio to suspend its business for three months, fined 1.896 billion won (about 1.44 million U.S. dollars), and fired a executives. The sanctions were imposed on August 31.
The FIU stated that the basis for imposing the sanctions is that Delio violated the regulations by conducting transactions with undeclared virtual asset service providers (VASPs), failing to conduct a money laundering risk assessment before providing new goods and services, and failing to fulfill obligations such as customer identification . (Digital Asset)