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The Financial Intelligence Unit of South Korea (FIU) has officially launched a large-scale audit of the activities of companies working with digital assets. The reason was the detected violations in the work of the operator of the largest UpBit crypto exchange, Dunamu. Earlier this month, the regulator fined Dunamu 35.2 billion won for systematic non-compliance with current regulations.

The last inspection revealed frequent cases of money transfers to foreign platforms that do not have registration. In addition, defects in user identification were found. According to the financial intelligence unit, some of the market players are still turning a blind eye to the rules of the local law on specific financial transactions.

The regulatory authority announced the introduction of an updated strategy for the application of punitive measures, where penalties will be applied immediately, without any concessions or taking into account the market share of a particular company. The list of platforms to be reviewed includes popular crypto exchanges, including Korbit, GOPAX, Bithumb and Coinone. The inspections are scheduled to be completed by mid-2026.

In accordance with the announced plan, the financial regulator intends to carefully examine the activities of key players in the digital asset market. Special attention will be paid to how they verify users and report on questionable transactions. The new policy of the regulator provides for the immediate application of sanctions provided for by law when any violations are detected.

In South Korea, they decided to seriously take up the crypt and arrange a total check there, which has not yet been done. It seems that the days when you could do whatever you wanted in the crypto world are over. Now comes the era of strict control, and if cryptoplatforms do not comply with the rules, they simply will not survive.