Bithumb Receives Temporary Relief from South Korean Court

A South Korean court has granted a temporary reprieve to crypto exchange Bithumb, staying the six-month partial business suspension imposed by regulators.

The Seoul Administrative Court's Second Administrative Division approved Bithumb's request for a stay of execution, effectively pausing the sanction until a final decision is reached. The suspension was ordered in March due to compliance failures, including millions of customer identity verification lapses and restricted transactions.

Bithumb had filed an administrative lawsuit and stay request shortly before the penalty was due to take effect, delaying enforcement of the disciplinary measure. The suspension would have restricted new users from depositing or withdrawing digital assets.