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Photo: Coinone |
[Alpha Biz= Paul Lee] As South Korea’s major crypto exchanges continue legal battles against regulatory sanctions, Coinone is considering whether to join, with its partial business suspension set to begin on April 29.
The Financial Intelligence Unit (FIU) imposed a three-month suspension over AML violations, along with a 5.2 billion won fine and a disciplinary warning for the CEO. As of the 27th, Coinone has not yet filed for an injunction and is still reviewing its options.
Industry watchers expect a possible legal move, especially after Upbit operator Dunamu won a similar case, while Bithumb is also in litigation. However, Coinone may opt against legal action, as the suspension mainly limits new users’ deposits and withdrawals, with minimal impact on overall operations.
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
