South Korean crypto exchange Korbit has accepted a fine of approximately $2 million and an official warning from the Financial Intelligence Unit (FIU) for anti-money laundering (AML) violations, stating it will not appeal the decision. Investigations revealed multiple issues in Korbit's transaction monitoring and customer due diligence processes, including around 22,000 violations, allowing users without completed KYC to trade, and transferring funds with overseas crypto service providers not registered in South Korea. Under regulatory pressure and declining business, Korbit's market share in South Korea has now dropped to about 0.5%. Additionally, securities firm Mirae Asset is moving forward with an acquisition deal for Korbit. (DL News) https://www.(wublock123.com)/index.php?m=content&c=index&a=show&catid=6&id=55021