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Bithumb was reportedly given a six-month partial suspension by South Korea’s Financial Intelligence Unit for alleged anti-money laundering failures.Bithumb, South Korea’s second-largest cryptocurrency exchange by trading volume, is reportedly seeking to reappoint CEO Lee Jae-won despite recent alleged anti-money laundering failures and other controversies, according to the Korea Times.
The exchange will convene its regular shareholders’ meeting on March 31, and a proposal to keep Lee in the top job will be put to shareholders, the Korea Times His current term expires at the end of the month, and a successful renewal would keep Lee as the exchange’s CEO for another two years. Cointelegraph has contacted Bithumb for comment.Under the measures, the exchange will be banned from processing external crypto transfers for new customers from March 27 to Sept. 26.) per user instead of 2,000 Korean won during a promotional event, distributing a total of 620,000 coins that it couldn’t back up. Bithumb is also awaiting the outcome of another probe into its order book sharing with an overseas platform and more penalties could pose a hurdle to license renewals, according to the Korea Times. “Bithumb will be on edge awaiting the results of ongoing regulatory probes, as the company still needs to renew its virtual asset service provider license,” an industry official told the Korea Times.China’s ‘50x’ blockchain boost, Alibaba-linked AI mines Bitcoin: Asia Express Cointelegraph is committed to independent, transparent journalism. This news article is produced in accordance with Cointelegraph’s Editorial Policy and aims to provide accurate and timely information. Readers are encouraged to verify information independently. Read our Editorial Policy
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