Bithumb scores a legal win in South Korea as six-month suspension is lifted by local judge
CoinDesk
A South Korean court has overturned a six-month suspension imposed on crypto exchange Bithumb.Summary
A South Korean court has lifted a six-month partial business suspension for cryptocurrency exchange Bithumb, following an application for a stay of execution. The suspension and a $24.6 million fine were imposed in March by the Financial Intelligence Unit (FIU) due to alleged violations of anti-money laundering rules, including millions of failures in customer identity verification and transaction blocking. While the suspension is overturned, it is unclear if the fine is also suspended. This legal win for Bithumb occurs amidst increased regulatory oversight of the crypto market in South Korea, with other exchanges like Upbit and Korbit also facing penalties and probes.
(Source：CoinDesk)