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South Korea FIU to Sanction Major Domestic Crypto Exchanges Over AML/KYC Violations, Majority Expected by H1 Next Year

adminNovember 23, 2025

The post South Korea FIU to Sanction Major Domestic Crypto Exchanges Over AML/KYC Violations, Majority Expected by H1 Next Year appeared com. South Korea‘s Financial Intelligence Unit (FIU), operating under the Financial Services Commission, is preparing sanctions against leading domestic crypto exchanges including Korbit, Gopax, Bithumb, and Coinone, following the Dunamu case. The measures target alleged AML and KYC violations, with the process advancing through legal review and sanctions deliberation sessions. Regulators indicate a consistent approach across platforms exhibiting similar compliance failures. In February, the FIU issued a warning to a Dunamu representative for breaches of the Special Financial Transactions Act, enforcing a three-month halt on new deposits and withdrawals and a penalty of 35. 2 billion won. While completing all actions within the current year is unlikely, authorities expect the bulk of sanctions to be resolved in the first half of next year. Source:.

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Bybit Said to Be in Talks to Buy South Korean Crypto Exchange Korbit: Report

adminNovember 10, 2025

The post Bybit Said to Be in Talks to Buy South Korean Crypto Exchange Korbit: Report appeared com. Cryptocurrency exchange giant Bybit is in talks to acquire Korbit, one of the oldest crypto exchanges in South Korea, according to media reports in the country. Bybit, the second-largest crypto exchange, met with Korbit executives, Maeil Business reported, citing sources in the virtual asset industry. Korbit told the newspaper: “We cannot comment on ongoing matters.” “We have noticed the market rumors regarding a potential acquisition of Korbit, but this is not within our knowledge,” a Bybit spokesperson told CoinDesk. “Please stay tuned to our official website for any future updates.” A softening of stance by regulators in the country, such as the Korea Financial Intelligence Unit (KoFIU) and Financial Services Commission (FSC), is allowing for more foreign firms to buy local exchanges, Maeil Business said. Binance, Bybit’s larger rival, recently completed the acquisition of South Korean crypto exchange Gopax, marking its return to the country market after clearing regulatory hurdles spanning a two-year period. Korbit, which is headquartered in the Gangnam-gu district of Seoul, was founded in 2013. In 2017, it was acquired by Korean game developer Nexon. Source:.