Delio, a South Korean crypto asset management firm holding dual licenses as a Virtual Asset Service Provider (VASP) in Korea and a Money Services Business (MSB) in the U.S., has been hit with a three-month business suspension and a fine of KRW 1.896 billion (approximately $1.6 million USD) by the Financial Services Commission's Financial Intelligence Unit (FIU). The regulatory body announced the punitive measures on September 1, citing multiple violations of financial transaction laws. The FIU stated that Delio failed to comply with various obligations under the Act on Reporting and Using Specified Financial Transaction Information.
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