Overview
- The FIU finalized sanctions on March 16, ordering a six-month restriction focused on services for newly registered users as existing customers continue trading and transfers.
- Regulators counted about 6.65 million violations, including roughly 3.55 million failures in customer identity checks and about 3.04 million instances of not blocking required transactions.
- Authorities said the measures respond to breaches of the Act on Reporting and Using Specified Financial Transaction Information, according to the Financial Services Commission.
- Personnel penalties include a reprimand warning for Bithumb’s chief executive and a six-month suspension for the exchange’s reporting officer.
- The action extends a broader crackdown following 2024–2025 on-site reviews of major exchanges and comes after earlier penalties for Upbit’s operator and Korbit, with scrutiny intensified by Bithumb’s recent erroneous bitcoin distribution.