Coinone’s FIU hearing delayed to Nov. 25, following Bithumb case

Coinone’s first hearing in its lawsuit seeking to cancel a partial business suspension imposed by South Korea’s Financial Intelligence Unit has been rescheduled to Nov. 25 from Sept. 16, Bizwatch reported. The Seoul Administrative Court’s 10th Administrative Division changed the hearing date after the court issued an order in June requiring both sides to prepare clarifications and the FIU requested an extension, according to the report. The change means Coinone’s first hearing will be held about seven months after the exchange filed the administrative suit on April 27. Bithumb’s case has also been delayed. Its first hearing, initially set for Aug. 13, was later moved to Oct. 22 after the exchange filed suit in March. Market observers interpret the delays as a sign the FIU is taking a cautious approach after losing a similar case against Dunamu. Dunamu filed suit in February last year and won its first trial ruling after one year and two months, though the FIU has since appealed the decision.