Bithumb Faces Proposed 6-Month Partial Ban over South Korea AML Breaches

Bithumb faces proposed 6-month partial ban over South Korea AML breaches

The suspension, according to local media reports, would only restrict virtual asset transfers for newly registered users, not affecting existing customer operations.

South Korea Proposes 6-Month Partial Ban on Bithumb

TLDR South Korea’s Financial Intelligence Unit issued a preliminary notice proposing a six-month partial suspension of Bithumb. Regulators said Bithumb conducted transactions with unregistered overseas virtual asset businesses. Authorities also cited failures in enforcing certain Know Your Customer procedures. The proposed suspension would restrict virtual asset transfers for newly registered users only. Existing users would still deposit and w…

Bithumb Faces Harsh Six-Month Transfer Ban Under FIU Probe

Bithumb, South Korea’s second-largest cryptocurrency exchange, on March 9 received advance notice of possible regulatory penalties from the Financial Intelligence Unit under the country’s Special Financial Transactions Act. The notice outlines potential disciplinary measures, including a six-month partial business suspension and questioning of the company’s chief executive. The action follows concerns from regulators about the exchange’s complia…

Bithumb faces possible six-month partial suspension in South Korea

Crypto exchange Bithumb risks a partial business suspension for negligence around money laundering and customer verification practices, according to …

Bithumb Could Face 6-Month Partial Suspension in South Korea

We must remove the first cover image as requested, so the final HTML will not include that image. Here is the rewritten article in the requested format. Regulatory authorities in South Korea are intensifying oversight of cryptocurrency platforms as Bithumb—the country’s second-largest exchange by trading volume—faces a potential six-month partial suspension. The Financial Intelligence Unit (FIU) has issued a preliminary notice tied to alleged an…

South Korea’s Bithumb Faces Six-Month Partial Suspension Over AML Violations

South Korea’s Bithumb faces a six-month suspension over AML violations as regulators tighten crypto rules after the Terra collapse.