South Korea's Financial Intelligence Unit fined virtual asset service provider Korbit 2.73 billion won (about $2.08 million) for breaching AML regulations under the Specific Financial Information Act. The violations included over 22,000 lapses in customer due diligence and transaction restrictions, plus unauthorized transactions with unregistered overseas VASPs. The FIU also warned Korbit's management and vowed continued stringent oversight on AML compliance.