PANews reported on May 1st that, according to YNA, a South Korean court has lifted the six-month suspension of Bithumb's partial business operations. Judge Gong Hyeon-jin of the Second Administrative Division of the Seoul Administrative Court granted 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, South Korea's Financial Intelligence Unit (FIU) fined Bithumb 36.8 billion won (approximately US$24.6 million) and imposed a six-month suspension of some of its operations for alleged large-scale violations of anti-money laundering (AML) regulations. The regulator stated that Bithumb was involved in approximately 6.65 million violations, of which 3.55 million were related to inadequate fulfillment of customer due diligence (KYC) obligations, and 3.04 million involved failure to properly intercept transactions that should have been restricted.

It remains unclear whether the court ruling also includes a suspension of the fine. This ruling is beneficial to Bithumb, but South Korean regulators have recently been intensifying their compliance reviews of cryptocurrency exchanges, including launching new investigations into platforms such as Upbit.