Bithumb Exchange Under Investigation by South Korea’s FIU Over Stellar Order Book Sharing Partnership

Bithumb exchange News - South Korea's Financial Intelligence Unit (FIU) has launched an investigation into Bithumb, one of the country's largest cryptocurrency exchanges, concerning its order book sharing arrangement with Australian trading platform Stellar. The FIU, operating under the Financial Services Commission, is examining whether the partnership complies with the Special Financial Transaction Information Act, which mandates strict anti-money laundering (AML) and customer verification protocols. Bithumb announced the collaboration on September 22, coinciding with the launch of its Tether (USDT) market. Order book sharing, a common practice in cryptocurrency trading, aims to enhance liquidity and create a more level playing field for smaller exchanges. However, regulators remain cautious about cross-jurisdictional risks, including potential exposure to unverified users or illicit transactions. South Korean authorities are particularly focused on monitoring foreign users who access domestic platforms indirectly. The outcome of this investigation could establish a precedent for similar partnerships throughout the region.