The Seoul Administrative Court has approved Bithumb's request to suspend the enforcement of a six-month partial business suspension imposed by the Financial Intelligence Unit (FIU). The suspension, initially set in March, was due to alleged violations of the Act on Reporting and Using Specified Financial Transaction Information, involving 6.65 million infractions related to transactions with unregistered virtual asset operators and customer due diligence failures. The FIU had fined Bithumb 36.8 billion won and ordered the suspension, which primarily affected new user external virtual asset transfers. This penalty marked the highest level of sanction faced by a Korean won market exchange to date. The suspension will remain on hold pending the court's final decision.
Seoul Court Halts Bithumb's Six-Month Business Suspension
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