South Korea’s Financial Intelligence Unit fined Dunamu, operator of the Upbit cryptocurrency exchange, 352 billion KRW (about $24.35 million) on Nov. 6 for breaching the Specific Financial Information Act. The penalty follows a Feb. 25 disciplinary action that imposed a three-month suspension on several executives. Cited violations include failures in suspicious transaction reporting and inadequate customer due diligence, both essential components of South Korea’s anti-money laundering framework.