According to a report by Edaily, Coinone has been sanctioned by the Financial Intelligence Unit (FIU) of South Korea for violating anti–money laundering obligations. The FIU imposed a partial suspension of business operations for 3 months (from April 29 to July 28) and a fine of 5.2 billion KRW (about US$3.5 million). The restrictions apply only to external transfers of virtual assets by new users; trading by existing users is not affected. The FIU said the issues involved include unreported trading on offshore exchanges, missing customer identification, and violations of trading restrictions. Coinone said it will make rectifications and will carefully consider whether to file a lawsuit.

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