South Korea-based cryptocurrency exchange Upbit, operated by Dunamu, faces a three-month partial suspension starting March 2025, driven by regulatory actions from the Financial Intelligence Unit. This measure highlights growing pressure on digital asset exchanges within South Korea and could impact investor sentiment in the nation’s burgeoning crypto market. The suspension follows an MOU signed between Seoul Metro and Dunamu to establish a corporate administrative facility, which coincided with heightened scrutiny of Upbit’s operations. 45,000 transactions involving unregistered entities have been flagged for potential non-compliance, prompting Upbit CEO Lee Sirgoo’s decision to challenge the suspension through administrative means. 8-month long legal proceedings await.