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Bithumb faces record fine, says it respects regulator's decision and will fix issues

South Korea's financial authorities imposed a six-month partial business suspension and a 36.8 billion won administrative fine on digital asset exchange Bithumb for alleged violations of the Act on Reporting and Using Specified Financial Transaction Information, including anti-money laundering duties. The Financial Intelligence Unit also decided executive sanctions, including a warning for the CEO and a six-month suspension for a reporting officer. The suspension limits transfers to external wallets by new customers.