So, apparently, South Korea isn’t thrilled with how easily you can wash your money via cryptocurrency. Who knew? Their Financial Intelligence Unit – which sounds suspiciously like something out of a spy novel, doesn’t it? – is coming down hard on the exchanges. Korbit, Gopax, Bithumb, and Coinone are all about to get a strongly worded letter… and a much heavier fine, if the precedent set by Dunamu is anything to go by.
Dunamu, the lovely folks behind Upbit, already coughed up 35.2 billion Korean Won (that’s, like, $24.35 million for those of us keeping track in dollars – which, let’s be honest, is everyone). Apparently, their anti-money laundering procedures were…lax. Understated, even. I imagine it involved a lot of winking and looking the other way. 🙄
Now everyone’s bracing for the fallout. “Aggressive regulatory moves,” they’re calling it. I’m picturing little regulators in tiny suits, wielding oversized rubber stamps. It’s expected to all shake out by next year, so if you’re planning on laundering any ill-gotten gains through Korean crypto, might want to expedite things. Just a thought. 🤷♀️ I’m not suggesting anything, naturally. I just… enjoy the drama. It’s far more interesting than my tulips.
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2025-11-24 11:37