South Korean regulators have fined cryptocurrency exchange Bithumb 36.8 billion won (approximately US$24.6 million) and ordered a six-month suspension of some of its operations after finding the exchange guilty of anti-money laundering compliance violations. The Financial Services Commission of South Korea disclosed that the penalty was based on the Act on Reporting and Use of Specific Financial Transaction Information, stemming from approximately 6.65 million violations by Bithumb. Of these, approximately 3.55 million involved failure to fulfill Know Your Customer (KYC) obligations, and approximately 3.04 million involved failure to effectively block transactions that should have been restricted. (CoinDesk)