South Korea Fines Coinone $3.5M, Suspends New User Services for 3 Months Over AML Violations
By Jamie Redman
South Korea’s Financial Intelligence Unit fined cryptocurrency exchange Coinone 5.2 billion won (about $3.5 million) and ordered a three-month suspension of new user services due to anti-money laundering (AML) violations. The issues involved systemic failures in customer identity verification and transactions with unregistered overseas platforms. The partial business suspension begins April 29, 2026.
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