South Korea Court Cancels Dunamu Suspension Over FIU Case
A South Korean court overturned a crypto exchange suspension, citing regulatory gaps in AML rules.Summary
A South Korean court has canceled a three-month partial business suspension imposed by the Financial Intelligence Unit (FIU) on Dunamu, the operator of the Upbit cryptocurrency exchange. The Seoul Administrative Court ruled in favor of Dunamu, stating that while regulations for transactions over 1 million won were clear, those for smaller transfers lacked specificity, undermining the FIU's basis for enforcement. The court found that the FIU had not provided clear guidance on required anti-money laundering (AML) measures, and therefore, Dunamu's actions, even if seemingly insufficient in hindsight, did not constitute intent or gross negligence. This ruling limits the FIU's ability to impose sanctions when compliance standards are not clearly defined and resolves a dispute that began in February 2025 when the FIU initially imposed the suspension.
(Source：Cointelegraph)