South Korea’s Korbit fined $2 million for money laundering

The South Korean crypto exchange Korbit has accepted a fine of nearly $2 million. The exchange also has an official warning for widespread failures in its AML and customer verification systems. In a statement, Korbit stated, “We respectfully and humbly accept the Financial Intelligence Unit’s decision to impose a fine. […] Despite the difficult circumstances, […] source: https://www.cryptopolitan.com/korbit-fined-2-million-for-money-laundering/