South Korea's FSC Fines Bithumb $24.6 Million, Orders Six-Month Partial Business Suspension

South Korea's Financial Services Commission fined exchange Bithumb 36.8 billion won (around $24.6 million) and ordered a six-month partial business suspension for anti-money laundering compliance breaches, Odaily Planet Daily reports. The regulator said the sanction covered about 6.65 million violations under the Act on Reporting and Utilization of Specific Financial Transaction Information. Roughly 3.55 million cases involved failures to meet customer due diligence requirements, while approximately 3.04 million related to inadequate blocking of restricted transactions, according to CoinDesk.