VASPs hit with 77% of FIU fines despite making up 4.2% of cases

Virtual Asset Service Providers (VASPs) accounted for 77% of all fines levied by South Korea's Financial Intelligence Unit (FIU) over the past two years and four months, Digital Asset reported exclusively. While VASP-related sanctions represented only 4.2% of the 95 total cases during the period, they comprised the vast majority of the 54 billion won ($39.1 million) in total penalties. The single largest fine was imposed on Dunamu, amounting to 35.2 billion won ($25.5 million).