The FIU notified Bithumb that it will face a six-month partial business suspension for violations of anti-money laundering obligations under the Specific Financial Information Act, and a CEO accountability warning has been issued. An anti-money laundering sanctions review committee will meet on March 16 to determine the severity of the penalties. Observers expect the penalties to exceed the 35.2 billion won penalty previously imposed on Upbit operator Dunamu for violations. Bithumb stated that it remains in the pre-notification stage and will fully present its improvement plan through subsequent formal procedures.
Bithumb Penalties Under Review: Could Exceed Upbit’s 35.2 Billion Won
The FIU orders a six-month partial suspension and a CEO accountability warning for Bithumb. A sanctions review on March 16 will decide penalties, which may surpass Upbit’s 35.2 billion won fine.
SPONSORED
Leave a Reply