A South Korean court has suspended Bithumb's partial business closure for six months; the outcome of the 36.8 billion won fine is pending.

CoinFeed reported on May 1st that, according to YNA, a South Korean court has overturned the six-month suspension of Bithumb's partial business operations. Judge Gong Hyeon-jin of the Second Administrative Division of the Seoul Administrative Court approved Bithumb's application for a stay of execution on Thursday, halting the business restrictions that took effect last month. Previously, in March of this year, the Financial Intelligence Unit (FIU) fined Bithumb 36.8 billion won (approximately US$24.6 million) and imposed a six-month partial business suspension on it for allegedly committing large-scale violations of anti-money laundering (AML) regulations. The regulator pointed out that Bithumb was involved in approximately 6.65 million violations, of which 3.55 million were related to insufficient fulfillment of customer due diligence (KYC) obligations, and 3.04 million involved failure to properly intercept transactions that should have been restricted.