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BTCC / BTCC Square / Global Cryptocurrency /
Bithumb Exchange Hit with Record $26.7 Million Fine for AML Failures

Bithumb Exchange Hit with Record $26.7 Million Fine for AML Failures

Author:
Global Cryptocurrency
Published:
2026-03-16 16:26:49
16
3
Bithumb exchange News -

South Korea's Financial Intelligence Unit (FIU) has imposed a historic fine of 36.8 billion won (approximately $26.7 million) on Bithumb, one of the nation's largest cryptocurrency exchanges, for systemic failures in its anti-money laundering (AML) compliance. This penalty marks the largest ever levied against a digital asset platform in South Korea and includes a six-month partial suspension of the exchange's operations.

Regulators identified millions of compliance violations during their investigation, citing inadequate customer verification (KYC) procedures and repeated failures to report suspicious transactions. The Financial Services Commission (FSC) approved the sanctions, signaling a clear escalation in regulatory scrutiny for crypto exchanges that fall short on compliance obligations.

Bithumb, a long-time dominant player in South Korea's crypto market, now faces significant operational constraints amid increasing regulatory pressure. Investigators stated the exchange's AML protocols exhibited 'major deficiencies in implementation and transparency.'

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