Upbit Operator Challenges FIU Sanctions
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Dunamu Faces Business Suspension OrderCoinGape
•Business
Business & Economics
Upbit Operator Dunamu Files Appeal Against FIU Over New Customer Transaction Suspension
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71% Informative
Dunamu, South Korean crypto exchange Upbit ’s operator, filed an appeal against the Financial Intelligence Unit (FIU) Recently, the FIU announced disciplinary actions against Upbit citing its failure to meet regulatory obligations.
As part of the legal action, Dunumu filed a lawsuit seeking to overturn the business suspension order and to halt the execution of the sanctions.
The FIU alleged Upbit and its operator breached several key regulations, including virtual asset transaction rules and customer verification requirements.
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