Bithumb Shuts Down USDT Trading Market Amidst Anti-Money Laundering Probe

South Korea’s second-largest cryptocurrency exchange, Bithumb, has closed its USDT trading market following a regulatory investigation into anti-money laundering (AML) compliance. This closure came after the Korean Financial Intelligence Unit (FIU) launched an on-site probe examining potential weaknesses in Bithumb’s order-book sharing arrangement with Stellar Exchange, which involved 10 cryptocurrencies.