South Korean regulators fined Bithumb 36.8 billion won and imposed a six-month partial suspension after uncovering millions of anti-money laundering failures. Posted March 17, 2026 at 7:18 am EST. South Korea’s regulatory pressure on crypto just intensified. Authorities have fined Bithumb 36.8 billion won, about $24.6 million , and imposed a six month partial suspension after uncovering widespread anti money laundering failures. The violations are significant. Regulators identified roughly 6.65 million breaches , including 3.55 million cases of failed customer identity checks and more than 3 million instances where suspicious transactions were not properly blocked . The exchange also processed tens of thousands of transfers involving unregistered overseas crypto firms , despite repeated warnings. This story is an excerpt from the Unchained Daily newsletter . Subscribe here to get these updates in your email for free The suspension targets new users only , meaning existing customers can continue trading and moving funds. Still, the penalties extend beyond the platform itself. Bithumb’s CEO received a formal reprimand, while its compliance officer was suspended. This is part of a broader crackdown. South Korea has already fined Upbit and Korbit for similar issues, signaling a clear shift toward stricter oversight.