Coinone sues South Korean regulator over sanctions

South Korean crypto exchange Coinone is taking legal action against sanctions imposed by the country's Financial Intelligence Unit (FIU), Edaily reported. The exchange filed for a suspension of execution just one day before the measures were set to take effect, signaling the start of a legal battle over the sanctions' validity. The core of the sanctions is a restriction preventing new users from depositing or withdrawing virtual assets to and from external exchanges. Existing users are not affected by the rule, and new users will still be able to use all other trading functions.