The Seoul Administrative Court has ruled in favor of Dunamu, the operator of Upbit, in its lawsuit against the Financial Intelligence Unit (FIU) of the Financial Services Commission. The court overturned a three-month partial business suspension imposed on Dunamu. The ruling highlighted the lack of clarity in regulatory rules and requirements for virtual asset transactions under 1 million Korean won. The court acknowledged that Dunamu had taken sufficient measures by obtaining customer commitments and using its monitoring system to identify wallet addresses and block transactions with unregistered entities, thus negating claims of intentional or gross negligence.
Dunamu Wins Court Case Against South Korean Financial Regulator
Disclaimer: The content provided on Phemex News is for informational purposes only. We do not guarantee the quality, accuracy, or completeness of the information sourced from third-party articles. The content on this page does not constitute financial or investment advice. We strongly encourage you to conduct you own research and consult with a qualified financial advisor before making any investment decisions.
