Korbit Exchange Indicted by South Korea’s FIU Over AML Violation

South Korea’s Financial Intelligence Unit (FIU) has indicted the Korbit exchange after a recently conducted comprehensive inspection. The result of this exercise showed that the cryptocurrency exchange violated the Specific Financial Information Act. This includes failures in customer due diligence, transaction restrictions, and dealings with unreported overseas VASPs. First-In, First-Out Method for South Korea’s Regulation According to Wu Blockchain, an anti-money laundering (AML) inspection discover ...