South Korean regulators plan to impose a six-month partial suspension on Bithumb, restricting new users from transferring out their crypto assets
Svmuu News: South Korea’s Financial Intelligence Unit (FIU) has issued a preliminary notice of a “six-month partial suspension of operations” and accountability measures for Bithumb’s executives due to alleged violations of the Special Act on the Prevention of Money Laundering and Terrorist Financing, transactions with unreported overseas virtual asset service providers, and lax KYC screening. The restrictions primarily target virtual asset withdrawals by new users; deposits, withdrawals, and trading of Korean won and crypto assets for existing users remain unaffected for now.
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