The Financial Intelligence Unit (FIU) of South Korea has penalized Coinone for breaching anti-money laundering (AML) obligations. Coinone will face a partial business suspension for three months and a fine of approximately 5.2 billion Korean won. The FIU identified that Coinone facilitated over 10,000 transactions with 16 unregistered overseas virtual asset service providers and reported around 40,000 customer identity verification violations along with approximately 30,000 transaction restriction breaches. Coinone has announced plans to rectify the issues and is considering legal action.