#BlocklikeNews South Korea’s Financial Services Commission (FSC) Financial Intelligence Unit (FIU) announced sanctions against crypto finance company Delio, including suspending all operations for three months, fined 1.896 billion won (approximately $1.44 million), and fired a senior executive.

The FIU said Delip transferred customer virtual assets 171 times for unreported foreign virtual asset operators and supported unreported foreign virtual asset operators in storing virtual assets. Additionally, Delio breached its customer identification obligations by failing to conduct a money laundering risk assessment before offering new products and services.