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According to Digital Asset, a South Korean currency exchange dealer, A, in his 40s, was sentenced by the Seoul Central District Court to 2 years in prison for money laundering related to the Huifang Group, a criminal-funds cash-in-transit organization connected to undeclared virtual asset transactions related to Cambodia. The court also ordered the recovery of 1.33 billion Korean won. The court found that between 2022 and 2024, A failed to report to financial authorities, conducting 194 transactions involving about 15.5 billion Korean won in digital assets; and between 2021 and 2023, he carried out 135 transactions related to about 2.9 billion Korean won in unregistered foreign exchange business, including remittances to China. This is the first time that a Korean court has confirmed a guilty verdict regarding suspicions of digital asset money laundering related to the Huifang Group.