South Korea court halts FIU sanctions on Dunamu, Upbit operator

A South Korean court has temporarily halted the enforcement of a partial business suspension issued by financial authorities against Dunamu, the operator of the crypto exchange Upbit, according to Yonhap News Agency. On March 27, the Seoul Administrative Court granted a temporary stay of enforcement of the sanctions imposed by the Financial Intelligence Unit (FIU), which operates under the Financial Services Commission (FSC). Earlier, the FIU had identified alleged violations of the Act on Reporting and Use of Specified Financial Transaction Information by Dunamu and its employees and issued a notice of partial business suspension. The measures, effective from March 7 to June 6, would restrict newly registered users from transferring crypto assets.