The post South Korea’s FIU Declared Fine on Crypto Firm Delio! appeared first on Coinpedia Fintech News
South Korea’s Financial Intelligence Unit (FIU) has imposed sanctions on local crypto firm Delio following violations of regulations. The FIU ordered Delio to halt operations for three months, pay a fine of 1.896 billion won (around $1.44 million), and terminate one executive. The regulator claimed that Delio conducted transactions with undeclared virtual asset service providers, failed to carry out a money laundering risk assessment before introducing new products and services, and ignored customer identification and other obligations.
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