Court temporarily suspends FIU's partial business ban on Coinone

A South Korean court has decided to temporarily suspend the effectiveness of a fine and partial business suspension imposed on the crypto exchange Coinone by the Financial Intelligence Unit (FIU). The suspension will last until May 29. According to a report by Money Today, the court explained that the measure is a temporary halt to allow for a full review and is not the final decision on the matter. On April 13, the FIU, which operates under South Korea's Financial Services Commission, fined Coinone 5.2 billion won and ordered a three-month partial business suspension for violating the Act on Reporting and Using Specified Financial Transaction Information. The penalty, which was set to begin on April 29, would have prohibited new customers from transferring virtual assets.