South Korean Court Halts Bithumb Suspension Following a Legal Battle
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Seoul Administrative Court granted Bithumb a stay of execution on April 30, pausing a planned six‑month suspension and allowing the CEX to continue operations pending a final ruling. Regulators allege 6.65M violations and imposed a 36.8 billion won fine, keeping substantial regulatory and legal risk for the crypto exchange. Bithumb offered compensation for losses from a Bitcoin error while pursuing legal action, leaving potential liabilities and market impact unresolved (coverage/compensation under review).
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- 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 Unit�…
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