What caused Coinone's AML violations?

Failures in customer ID checks and monitoring suspicious trades, per FSC—gaps that let unverified funds flow unchecked.

How long is Coinone's suspension?

Three months partial: No new users, no fiat deposits, but existing trades continue.

Will this affect other Korean exchanges?

Yes—brace for audits. FSC's ramping enforcement, targeting the top four hardest.

Coinone Slapped with $3.5M Fine, 3-Month Ban [AML Crackdown]

Coinone's $3.5 million fine and three-month partial suspension for AML violations marks a harsh wake-up for South Korea's crypto scene. Regulators aren't playing around anymore.

Fintech Pulse Apr 15, 2026 4 min read 24 views

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⚡ Key Takeaways

Coinone fined $3.5M with 3-month partial suspension for AML lapses, largest penalty in Korea to date. 𝕏
Signals tougher regs amid 40% crypto volume surge, potentially cutting Coinone's Q4 revenue 20-30%. 𝕏
Echoes Mt. Gox 2018; could consolidate market to big players, hiking compliance costs industry-wide. 𝕏