Cryptocurrency exchange operator Dunamu has been fined by the National Tax Service (NTS) with a penalty amounting to 20 billion won.
According to the financial sector on the 17th, Dunamu reported that it was imposed a penalty of 22.635 billion won in corporate taxes and others following the tax audit by the Seoul Regional Tax Service. The Seoul Regional Tax Service's international transaction investigation bureau began the tax audit of Dunamu in February. The NTS notified the imposition of the penalty on June 30, and Dunamu has paid the notified amount. The penalty of 22.635 billion won is approximately 23% of Dunamu's net profit in the second quarter, which is about 97.6 billion won.
Dunamu is also in the midst of a lawsuit regarding sanctions with the financial authorities. The Financial Intelligence Unit (FIU) notified Dunamu in February of sanctions including a three-month suspension of some operations, a warning against CEO Lee Seok-woo, and the dismissal of nine employees for violations.
According to the FIU, Dunamu has supported a total of 44,948 transactions involving the transfer of virtual assets with 19 unreported overseas virtual asset businesses that did not fulfill their reporting obligations under the Act on the Reporting and Use of Specific Financial Transaction Information, as well as violated customer verification and transaction limitation obligations.
Dunamu has filed a lawsuit to cancel the FIU sanctions, which is currently halted.