Captured By Tracy D'souza / 12:51 pm on 7 November 2025
South Korea’s financial regulators have fined crypto exchange Dunamu, operator of Upbit, $24.3 million for violating customer identification and anti-money laundering (AML) rules. Authorities found that the platform failed to properly verify certain high-value transactions and maintain adequate KYC procedures. The Financial Intelligence Unit (FIU) stated that Dunamu’s lapses posed risks of illicit fund transfers and non-compliance with national crypto regulations. In response, Dunamu said it would enhance its compliance framework and internal monitoring systems. The penalty marks one of the largest fines imposed on a South Korean crypto exchange, highlighting tighter enforcement in the country’s digital asset sector.
