Overview
- Bithumb won a stay of execution from the Seoul Administrative Court on Thursday, stopping a six-month partial suspension and allowing trading to continue during the lawsuit.
- The decision is temporary and does not resolve the case, and the court has not said whether the 36.8 billion won fine is also paused.
- Regulators ordered the suspension in March after alleging about 6.65 million compliance breaches, including failures to verify customers and to block transactions that should have been stopped.
- Had it taken effect, the sanction would have barred new users from making crypto deposits or withdrawals, which would have curbed sign-ups and activity on the platform.
- Regulatory scrutiny has widened after a February payout error, with Bithumb seeking a court freeze on 7 BTC that some users kept and privacy officials probing exchanges over sharing order books with overseas platforms.