South Korean financial regulators have completed a 35.2 billion won fine against Upbit operator Dunamu.

South Korea's Financial Services Commission's Financial Intelligence Unit (FIU) announced it has completed a fine of 35.2 billion won (approximately US$24.35 million) against Upbit operator Dunamu. This penalty follows a three-month suspension and disciplinary action taken against Dunamu executives and employees on February 25th of this year. The reasons for the penalty include violations of the Specified Financial Information Act, including transactions with undeclared virtual asset operators, failure to perform customer due diligence, failure to implement transaction restrictions, and failure to report suspicious transactions. (News1)