A South Korean court has given Coinone temporary relief by suspending a three-month business restriction from the country’s Financial Intelligence Unit (FIU).
This decision lets Coinone keep operating as usual while it challenges the regulator in court. Reports say the Seoul Administrative Court will keep the suspension in place until 30 days after the main lawsuit’s final judgment.
The dispute began after the FIU’s anti-money laundering inspection. The regulator accused Coinone of breaking compliance rules, such as working with unregistered virtual asset service providers and not properly verifying customer identities. Authorities said almost 90,000 customer verification cases were involved.
Because of this, the FIU fined Coinone 5.2 billion won (about $3.8 million) and ordered a three-month partial suspension that stopped the exchange from onboarding new users. The restrictions would have blocked new customers from making deposits, getting credit, or withdrawing digital assets.
Coinone filed a lawsuit in April 2026 and asked the court to pause the enforcement order right away. The court’s recent decision now shields the exchange from disruption while the case moves forward.
This ruling comes as South Korea’s crypto sector faces more regulatory scrutiny. Coinone is not the only exchange in this situation, other major platforms like Upbit and Bithumb have also won favourable court decisions against similar actions recently.
The result of Coinone’s case could set an important precedent and influence how regulators handle compliance for crypto exchanges in the future.
Seoul Court Blocks FIU’s 3-Month Ban on Crypto Exchange Coinone
In a major win for South Korea’s crypto industry, a Seoul court has temporarily halted the Financial Intelligence Unit’s suspension order against Coinone, allowing the exchange to continue operations while the legal… pic.twitter.com/1WXJoSyUOh
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