The South Korea financial watchdog is preparing a fresh round of penalties for domestic virtual asset exchanges, stepping up its campaign against anti-money laundering failures that regulators say threaten the integrity of the country’s fast-growing crypto market.
Financial authorities are expected to issue both institutional and individual sanctions, along with fines, against major trading platforms that breached anti-money laundering obligations, according to a local report published Monday.
Industry participants expect similar findings across the remaining exchanges, given that inspectors examined broadly the same anti-money laundering controls.
The process will mirror the Dunamu case, where officials first decided on personal and institutional sanctions, then confirmed the size of the fine. In February, the FIU issued a disciplinary warning to Dunamu’s chief executive and slapped the exchange with a three-month suspension on new customer deposits and withdrawals for breaches of the Special Financial Transactions Act.
The enforcement drive comes as South Korea faces renewed uncertainty over its long-delayed crypto tax regime. Officials have warned that the country is still far from ready to start taxing virtual assets by the scheduled Jan. 2027 date, citing gaps in infrastructure and detailed guidance.
With four exchanges still awaiting decisions, the FIU is unlikely to finish its sanctions calendar this year. Most of the remaining actions are expected to be wrapped up by the first half of next year, keeping regulatory pressure elevated over a period when global crypto markets are already adjusting to stricter oversight.
