Dunamu, which operates the virtual asset exchange Upbit, filed an objection to the financial authorities' disposition. As a result, the effect of the fines disposition is temporarily suspended.
According to the financial authorities on the 9th, Dunamu recently submitted an objection to the fines disposition to the Financial Services Commission's Financial Intelligence Unit (FIU). In Nov. last year, the FIU found violations of the Act on Reporting and Using Specified Financial Transaction Information (the "Specified Financial Transaction Information Act") during its inspection of Upbit and imposed fines of 35.2 billion won.
Under current law, when fines are contested, the effect of the disposition is suspended, and the final amount is determined through a fines trial at the competent court. An objection can be filed within 60 days from the date the disposition notice is received.