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[Alpha Biz= Paul Lee] The Financial Services Commission’s Financial Intelligence Unit (FIU) announced on February 25 that it has decided to impose a three-month partial business suspension on Dunamu, the operator of the cryptocurrency exchange Upbit, for violations of regulations related to transaction bans, customer verification, and suspicious transaction reporting.


The decision also includes issuing a reprimand to CEO Lee Seok-woo and imposing personnel sanctions on nine employees, including the dismissal of the compliance officer.


Dunamu has stated that it agrees with the FIU's decision and is currently discussing future measures.


In a statement released that day, Dunamu explained, "We understand the intent behind the regulatory measures from financial authorities and are carefully discussing future plans. This sanction mainly limits services for new users."

 

 

 

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