Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
Today in crypto, Bithumb risks a partial business suspension for negligence around money laundering and customer verification practices, according to local media reports in South Korea. The former US Commodity Futures Trading Commission (CFTC) Chairman Chris Giancarlo said US banks are the ones most in need of crypto regulatory clarity, and Strategy’s Michael Saylor signaled his company is bought more BTC.
Bithumb, South Korea’s second-largest cryptocurrency exchange by trading volume, is reportedly facing a possible partial business suspension of up to six months as regulators step up enforcement over anti-money laundering controls.
South Korea’s Financial Intelligence Unit (FIU) gave Bithumb a preliminary notice of a six-month partial suspension over alleged anti-money laundering and know-your-customer failures under the Act on Reporting and Using Specified Financial Transaction Information, according to local media reports on Monday. The regulator reportedly cited concerns over dealings with unregistered overseas virtual asset service providers and shortcomings in customer due diligence.
