Dunamu wins lawsuit against FIU over business suspension, FSC to appeal

Dunamu, the operator of South Korean crypto exchange Upbit, has won an administrative lawsuit against the Financial Intelligence Unit (FIU) over a partial business suspension, Digital Asset reported. The Seoul Administrative Court's 5th Administrative Division ruled that while the FIU penalized Dunamu for gross negligence, the regulatory body had not provided specific guidelines for the required measures. The court found it difficult to conclude that Dunamu acted with intent or gross negligence, noting the company had taken its own steps. South Korea's Financial Services Commission (FSC) announced it would appeal the decision. An FSC official expressed disappointment with the ruling, stating that transactions with unregistered virtual asset service providers could undermine anti-money laundering systems. The official added that an appeal would be filed immediately upon receiving the written judgment. The legal dispute stems from sanctions imposed by the FIU on Dunamu in February 2025 for allegedly violating the Act on Reporting and Using Specified Financial Transaction Information.