Core Insights - Korbit, a South Korean crypto exchange, has been fined 2.73 billion won ($1.9 million) for multiple breaches related to anti-money laundering and customer verification [1][2] - The Financial Intelligence Unit (FIU) found significant violations of the Special Financial Transactions Act, including failures in customer due diligence and transaction restrictions [2][4] - Mirae Asset, a financial group with no prior crypto involvement, is in talks to acquire a majority stake in Korbit, with the deal potentially valued at up to $98 million [3] Regulatory Actions - The FIU has imposed an institutional warning and personal disciplinary measures against senior executives at Korbit, including a warning to the CEO [2][3] - An on-site inspection conducted by the FIU in October 2024 revealed thousands of violations related to anti-money laundering (AML) and know-your-customer (KYC) protocols [4] - The enforcement action is part of the FIU's broader initiative to enhance anti-money laundering capabilities and legal compliance within the virtual asset market [5]