South Korean court grants stay on Bithumb’s six-month suspension pending final ruling: reports
The Block
A South Korean court has paused a six-month business suspension against Bithumb pending a final legal ruling regarding alleged AML violations.Summary
The Seoul Administrative Court has granted a stay on a six-month partial business suspension imposed on crypto exchange Bithumb by the Financial Intelligence Unit (FIU). The regulator had ordered the suspension and a 36.8 billion won ($25 million) fine due to alleged failures in verifying user identities, which the exchange is now contesting in court. This stay allows Bithumb to continue operations as normal while the litigation proceeds. Additionally, the exchange faces regulatory scrutiny following a "fat finger" incident involving mistaken Bitcoin distributions and has delayed its planned IPO until 2028.
(Source：The Block)