Korbit, a leading exchange in South Korea, was fined nearly $2 million for anti-money laundering regulatory violations and chose not to appeal. The penalty stemmed from a routine inspection by the Financial Intelligence Unit (FIU), which found significant deficiencies in several compliance areas such as customer identity verification and suspicious transaction monitoring. Korbit subsequently publicly committed to全面整改运营流程 to enhance transparency in the crypto market.

It is worth noting that this incident reflects ongoing pressure from South Korean regulators on exchanges. Korbit's market performance also declined accordingly — currently holding a market share of 0.5% with an average daily trading volume of approximately $12 million. In the highly competitive landscape of Korean exchanges, the phenomenon of compliance costs rising while market share diminishes has become increasingly evident. This may indicate that platforms investing in compliance will gain an advantage in long-term competition, while those taking shortcuts face greater risks.