South Korean court suspends Upbit’s “three-month partial business suspension” penalty

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According to Foresight News, citing Newsis, the Seoul Administrative Court has temporarily suspended the "three-month partial business suspension" penalty imposed by the Financial Intelligence Unit (FIU) on Dunamu, the parent company of the crypto trading platform Upbit, until 30 days after the main case verdict takes effect. Upbit new users can continue to deposit and withdraw crypto assets.

In a previous report, Foresight News noted that Upbit explained the sanctions imposed by financial authorities, stating that these measures were taken based on issues discovered during the 2024 on-site inspection by the Financial Intelligence Unit (FIU). The specific sanctions include partial business suspension and prohibiting new customers from transferring virtual assets.

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