South Korea fines Bithumb $24M and orders 6-month partial business suspension over AML breaches

South Korean regulators have fined cryptocurrency exchange Bithumb $24 million and imposed a six-month partial suspension addressing 6.65 million violations, including unregistered overseas VASP transfers. This enforcement highlights the country's stringent crackdown on AML and KYC violations within its crypto sector. The actions set a precedent for further regulatory scrutiny and signal increased compliance demands for virtual asset service providers in South Korea.