Court Rules to Suspend Enforcement of South Korean Regulator's "Partial Business Suspension" Sanction Against Bithumb

Odaily Planet Daily News According to Yonhap News Agency, the Seoul Administrative Court accepted Bithumb's request for a stay of execution against the Korea Financial Intelligence Unit (FIU) on April 30, ruling that the six-month "partial business suspension" sanction imposed on it will be suspended until a final judgment is issued. Previously, the FIU accused Bithumb of violating the *Act on Reporting and Using Specified Financial Transaction Information* (Specific Financial Information Act), involving approximately 6.65 million violations, including failure to fulfill customer identification obligations and transactions with unregistered crypto asset operators, and imposed a fine of 36.8 billion won. The sanction originally planned to restrict new users from transferring crypto assets to external addresses. Due to the latest court ruling, Bithumb will be able to continue its current business operations during the litigation period. (Yonhap)