Upbit is considering appealing the $25 million fine imposed by South Korean regulators.

Odaily Planet Daily reports that South Korea's Financial Intelligence Unit (FIU) has fined Upbit operator Dunama $25 million and suspended new customer registrations for three months. The regulator found approximately 5.3 million instances of customer verification violations and failed to report 15 suspicious transactions. Dunama is considering an appeal, citing a precedent of FIU rulings being overturned by courts. (CoinDesk)