A Seoul court temporarily halted a six-month partial business suspension that South Korea's Financial Intelligence Unit (FIU) imposed on cryptocurrency exchange Bithumb on April 30. The ruling lets Bithumb restart operations immediately after less than three weeks under restrictions.
The FIU's April 30 Order
The Financial Intelligence Unit ordered Bithumb to stop specific business activities for six months starting April 30. The partial suspension didn't shut the exchange down but limited core functions. It marked the first time the FIU used its power to restrict a major cryptocurrency platform in South Korea.
Why the Court Intervened
Judges issued the temporary halt this week without detailing their reasoning. Court documents show the ruling took effect the same day it was issued. Bithumb had been operating under reduced capabilities since the FIU directive.
What Changes Now
Users can access previously restricted services again, including certain deposit and withdrawal functions. The exchange hasn't announced new trading limits or fee changes. Markets reacted with a 7% jump in Bithumb's native token within hours of the news breaking.
The court didn't specify how long the temporary halt will last. Bithumb's full operations remain on hold until the judiciary settles the case.
