South Korea's Financial Intelligence Unit (FIU) has imposed a 35.2 billion won ($25.4 million) fine on Dunamu, the operator of the cryptocurrency exchange Upbit, for significant compliance violations. The FIU uncovered 8.6 million regulatory breaches, including 5.3 million instances of inadequate customer due diligence and 3.3 million violations of transaction restriction requirements. Additionally, there were 15 critical failures to report suspicious transactions. This penalty reflects increasing regulatory scrutiny in the crypto sector and emphasizes the necessity for stringent anti-money laundering measures.