NEWS
2023.09.14
FIU Recommends Dismissal of Delio CEO Sangho Jung
Service area
Lawyer
The FIU's fine of Delio has garnered significant attention from the industry. The FIU fined Delio for 'violating its obligation to assess money laundering risks before offering new products and services'. Noting that products for depositing and managing virtual assets may not fall under the definition of financial investment products, Partner Attorney Ohoon Kwon questioned whether a lending business that places a security interest in virtual assets and lends cash could be considered a virtual asset business under the FIU's "violation of the obligation not to transact business with virtual asset businesses."
URL : FIU Recommends Dismissal of Delio CEO Sangho Jung
