Bithumb fined 37 bln won, faces 6-month biz suspension over anti-money laundering lapses | Yonhap News Agency

## Summary
OK SEOUL, March 16 (Yonhap) -- The country's anti-money laundering agency said Monday that it has decided to fine Bithumb, one of South Korea's crypto exchanges, some 37 billion won (US$24.8 million) and impose a six-month partial business suspension over lapses in customer verification obligations and transactions with unregistered partners. Prices of cryptocurrencies are displayed on a screen inside the lounge of Bithumb, one of the crypto exchanges in South Korea, in southern Seoul, in this file photo taken Feb. 9, 2026. (Yonhap) sam@yna.co.kr (END) Keywords #crypto exchange Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N. Korea, U.S. conduct joint drills BTS to launch 'Arirang' pop-ups to mark new album release Most Saved 16th Gwangju Biennale: You must change your life (2nd LD) N. Korea holds parliamentary elections prev Bithumb fined 37 bln won, faces 6-month biz suspension over anti-money laundering lapses Next Bithumb fined 37 bln won, faces 6-month biz suspension over anti-money laundering lapses

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SEOUL, March 16 (Yonhap) -- The country's anti-money laundering agency said Monday that it has decided to fine Bithumb, one of South Korea's crypto exchanges, some 37 billion won (US$24.8 million) and impose a six-month partial business suspension over lapses in customer verification obligations and transactions with unregistered partners.
The Financial Intelligence Unit (FIU), under the Financial Services Commission said Bithumb did not comply with its obligations to verify the identities of users in about 6.59 million cases.
The crypto exchange is also found to have supported some 45,000 transactions with 18 unregistered exchanges overseas.
The FIU said Bithumb's chief executive officer (CEO) will receive an official reprimand.
The FIU will give Bithumb 10 days to submit its opinion before finalizing the fine.
Cryptocurrency exchanges here are obligated to verify customer identities through real-name accounts linked to domestic banking partners, and should report transactions exceeding a specific amount.
Prices of cryptocurrencies are displayed on a screen inside the lounge of Bithumb, one of the crypto exchanges in South Korea, in southern Seoul, in this file photo taken Feb. 9, 2026. (Yonhap)
sam@yna.co.kr
(END)
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Bithumb fined 37 bln won, faces 6-month biz suspension over anti-money laundering lapses

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## Expert Analysis

### Merits
N/A

### Areas for Consideration
- Prices of cryptocurrencies are displayed on a screen inside the lounge of Bithumb, one of the crypto exchanges in South Korea, in southern Seoul, in this file photo taken Feb. 9, 2026. (Yonhap) sam@yna.co.kr (END) Keywords #crypto exchange Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N.

### Implications
- The FIU said Bithumb's chief executive officer (CEO) will receive an official reprimand.
- The FIU will give Bithumb 10 days to submit its opinion before finalizing the fine.
- Cryptocurrency exchanges here are obligated to verify customer identities through real-name accounts linked to domestic banking partners, and should report transactions exceeding a specific amount.
- Prices of cryptocurrencies are displayed on a screen inside the lounge of Bithumb, one of the crypto exchanges in South Korea, in southern Seoul, in this file photo taken Feb. 9, 2026. (Yonhap) sam@yna.co.kr (END) Keywords #crypto exchange Articles with issue keywords Most Liked (News Focus) USFK's relocation of military assets to Middle East raises concerns about Seoul's capability to deter N.K. threats 16th Gwangju Biennale: You must change your life BTS expands Gwanghwamun concert capacity to 22,000 with added standing zones (2nd LD) N.

### Expert Commentary
This article covers korea, bithumb, won topics. Areas of concern are also raised. Readability: Flesch-Kincaid grade 0.0. Word count: 459.