"On April 30, 2026, Judge Gong Hyeon-jin of the Seoul Administrative Court accepted Bithumb's request for a stay of execution, temporarily blocking a six-month partial business suspension that South Korea's Financial Intelligence Unit had imposed in March."
"The FIU also levied a 36.8 billion won ($24.6 million) fine against the exchange for approximately 6.65 million compliance violations, including failed customer identity verification and unregistered virtual asset operator transactions."
"The six-month suspension, described as the harshest sanction ever handed to a Korean won-based crypto exchange, would have barred new customers from transferring external virtual assets on the platform."
On April 30, 2026, a Seoul court blocked a six-month partial business suspension imposed on Bithumb by the Financial Intelligence Unit. The FIU had fined Bithumb 36.8 billion won for 6.65 million violations related to anti-money laundering and customer verification. The suspension was the harshest penalty for a Korean crypto exchange, threatening Bithumb's operations and customer acquisition. Bithumb's legal action against the FIU's sanctions reflects ongoing regulatory challenges faced by crypto exchanges in South Korea, with other exchanges like Upbit and Coinone also under scrutiny.
Read at news.bitcoin.com
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