The Financial Intelligence Unit (FIU) under the Financial Services Commission said on the 16th that it imposed a six-month business suspension and total fines of 36.8 billion won on virtual asset exchange Bithumb for violating the Act on Reporting and Using Specified Financial Transaction Information.

For executives (chief executive officer) and responsible officers, the authorities will proceed with status sanctions, taking into account the severity of the legal violations, including a reprimand warning for the chief executive officer and a six-month suspension for the reporting officer.

A view of the Bithumb Lounge Samseong branch. /Courtesy of News1

This fines disposition is a measure based on violations uncovered during FIU on-site inspections of the five major exchanges (Upbit, Bithumb, Coinone, Korbit, GOPAX) in 2024–2025.

The FIU said it identified about 6.65 million violations of the specified financial information law by Bithumb. These include about 3.55 million violations of customer due diligence obligations and about 3.04 million violations of transaction restriction obligations.

Bithumb said it "respects the financial authorities' sanction decision" and noted it will "improve the cited issues to create a safe transaction environment."

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