Bithumb, South Korea's second-largest cryptocurrency exchange, is pushing for the re-election of CEO Lee Jae-won for another two-year term, despite facing significant regulatory challenges. The proposal will be presented at the shareholders' meeting on March 31. The exchange has recently been penalized by the Korean Financial Intelligence Service with a six-month suspension of certain operations and a 36.8 billion won fine due to alleged anti-money laundering violations. Additionally, Bithumb is under scrutiny for mistakenly distributing 620,000 bitcoins during a promotional campaign and is being investigated for sharing order books with overseas platforms, which could impact its virtual asset service provider license renewal.