Korbit Financial Fine: Importance of Compliance in Korea
Korbit Financial Fine has captured the attention of stakeholders in South Korea’s dynamic cryptocurrency landscape, as it represents a pivotal instance of regulatory enforcement by the Financial Intelligence Unit (FIU).Recently, the FIU imposed a financial penalty of 2.73 billion won (approximately 2.08 million USD) on Korbit for serious violations concerning anti-money laundering regulations and customer identification processes.