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A Seoul court has overturned a six-month partial business suspension on Bithumb, one of South Korea's largest cryptocurrency exchanges. The ruling reverses sanctions imposed in March by the Financial Intelligence Unit over alleged anti-money laundering violations. It remains unclear whether a 36.8 billion won ($24.6 million) fine is also on hold.
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South Korea is planning tighter regulations on digital assets following a major glitch at cryptocurrency exchange Bithumb, which accidentally distributed over $40 billion in bitcoin to customers. The incident, revealed over the weekend, prompted officials to highlight the need for stronger oversight. Bithumb has since recovered most of the funds and pledged full compensation to affected users.