[South Korea to Review Penalty for Bithumb, Fine May Exceed Upbit's 35.2 Billion KRW Penalty] BlockBeats News, March 15: South Korean cryptocurrency exchange Bithumb has been preliminarily notified by the Financial Intelligence Unit (FIU) that it will face a six-month partial business suspension for violating anti-money laundering obligations under the 'Specific Financial Information Act.' Additionally, a warning of accountability has been issued to the CEO. South Korean financial authorities plan to convene an anti-money laundering sanctions review committee on March 16 to finalize the severity of the penalty. The penalty is expected to exceed the previous fine imposed on Upbit operator Dunamu, which was fined 35.2 billion KRW and faced a three-month partial business suspension for violations. Since Bithumb has a higher number of violations, the industry widely anticipates that the fine will set a new record. Bithumb has responded by stating that the matter is still in the preliminary notification stage and that it will fully present its improvements through subsequent formal procedures.