South Korean Court Halts Bithumb Suspension Following a Legal Battle
Court suspends Bithumb sanction, allowing operations to continue pending final ruling.Regulators cite 6.65M violations and impose 36.8B won fine on Bithumb.Bitcoin error triggers losses compensation offered while legal action is considered. A South Korean court has halted enforcement of a regulatory sanction against crypto exchange Bithumb, delaying a six-month suspension of its operations while legal proceedings continue. The decision pauses one of the severe penalties issued to a domestic digital asset platform, allowing the exchange to continue certain services pending a final ruling. According to the report, the Seoul Administrative Court‘s 2nd Administrative Division approved Bithumb’s request for a stay of execution on April 30. The exchange had filed the application alongside an administrative lawsuit, seeking to block the Financial Intelligence Units enforcement order. As a result, the suspension measure, originally scheduled to take effect in late March, will remain inactive until the court reaches a final judgment. The Financial Intelligence Unit had imposed the sanction following findings that Bithumb violated multiple obligations under the Specific Financial Information Act. Authorities cited approximately 6.65 million breaches, including failures related to restrictions on transactions with unregistered virtual asset operators, customer identification requirements, and trading limitations. In addition to the operational restriction, regulators also issued a fine