South Korea Tightens Crypto Regulation with New Sanctions on Exchanges

South Korea is enacting stricter measures to regulate its rapidly growing virtual asset market. The Korean Financial Intelligence Unit (FIU), which has completed inspections of major exchanges such as Upbit, Bithumb, Coinone, Korbit, and GOPAX, is preparing new sanctions for companies violating anti-money laundering (AML) rules. These actions follow months of field visits and aim to maintain the stability of the digital asset market.