Verdict in Dunamu-FIU lawsuit scheduled for April 9

A verdict in the administrative lawsuit filed by Dunamu, the operator of South Korean crypto exchange Upbit, against South Korea's Financial Intelligence Unit (FIU) is scheduled to be announced at 4:50 a.m. UTC on April 9, Digital Asset reported. The case challenges a partial business suspension order issued by the FIU. It is the first administrative lawsuit of its kind to address whether transactions with unregistered Virtual Asset Service Providers (VASPs) constitute gross negligence or willful misconduct. The verdict will come one year and two months after the FIU first issued the order in February of last year. During the proceedings, the FIU's legal representatives argued that Dunamu could have identified risk indicators associated with unregistered providers but designed its system to avoid doing so, which they contend amounts to gross negligence. Dunamu countered that the FIU's action was unlawful, claiming it was based on a definition of gross negligence and willful misconduct that deviates from established legal precedent.