A South Korean court temporarily lifted the partial business suspension on crypto exchange Upbit

On Feb. 25, South Korea’s Financial Intelligence Unit (FIU) sanctioned the exchange, imposing a three-month ban on deposits and withdrawals for new clients.

In response to the FIU’s sanction, Upbit’s parent company, Dunamu, filed a lawsuit against the FIU, seeking to overturn the partial suspension order. In addition, Dunamu requested an injunction to temporarily lift the suspension order. On March 27, local media Newsis reported that the court granted the injunction, moving the suspension order 30 days after a court judgment is reached. This allows Upbit to service new clients while the legal battle continues.

A South Korean court temporarily lifted the partial business suspension on crypto exchange Upbit

On Feb. 25, South Korea’s Financial Intelligence Unit (FIU) sanctioned the exchange, imposing a three-month ban on deposits and withdrawals for new clients.

In response to the FIU’s sanction, Upbit’s parent company, Dunamu, filed a lawsuit against the FIU, seeking to overturn the partial suspension order. In addition, Dunamu requested an injunction to temporarily lift the suspension order. On March 27, local media Newsis reported that the court granted the injunction, moving the suspension order 30 days after a court judgment is reached. This allows Upbit to service new clients while the legal battle continues.

https://cointelegraph.com/news/upbit-30-day-ban-dunamu-lawsuit-injunction-fiu-fsc