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BTCC / BTCC Square / Global Cryptocurrency /
Bithumb Exchange Faces Suspension Over AML/KYC Violations in South Korea

Bithumb Exchange Faces Suspension Over AML/KYC Violations in South Korea

Author:
Global Cryptocurrency
Published:
2026-03-10 11:54:08
20
1
Bithumb exchange News -

South Korean regulators are moving to suspend Bithumb, the country's second-largest cryptocurrency exchange, over suspected violations of anti-money laundering (AML) and Know Your Customer (KYC) regulations. The Financial Intelligence Unit (FIU) found transaction irregularities, including dealings with unregistered overseas virtual asset service providers.

The crackdown reflects Seoul's broader push to enforce strict compliance in its crypto ecosystem. Authorities emphasize that robust identity verification and transaction tracking are critical to preventing financial crime and market manipulation in an industry handling billions annually.

Bithumb's alleged shortcomings in customer due diligence systems have drawn particular scrutiny. This development comes as South Korea continues tightening oversight of digital asset platforms following its implementation of the Act on Reporting and Use of Specific Financial Transaction Information.

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