South Korea FIU Seeks Six-Month Bithumb Suspension and 50 Billion Won Fine on 9 March 2026

On 9 March 2026, South Korea's Financial Intelligence Unit proposed a six-month partial suspension of Bithumb's business along with potential penalties of up to 50 billion won. The sanctions stem from findings of extensive AML and KYC shortcomings, unreported overseas dealings, and a past system error that misallocated 620,000 BTC, and they now threaten to delay the exchange's planned IPO until at least late 2026.