South Korean financial authorities investigate Bithumb's compliance with cross-border order sharing

ChainCatcher news, the Financial Intelligence Unit (FIU) of South Korea is investigating whether the order book sharing between the country's major cryptocurrency exchange Bithumb and the Australian Stellar exchange complies with legal procedures.

Bithumb announced the sharing of the order book with Stellar when it launched the USDT market on September 22, but financial authorities believe it may not have fully complied with the relevant procedural requirements. According to the Specific Financial Transaction Information Act, cross-border order sharing must meet strict conditions, including that both parties must obtain permission and fulfill anti-money laundering obligations, while ensuring that customer information is verifiable. If violations are found, financial authorities will take necessary measures. Industry insiders point out that there are practical difficulties in obtaining overseas user information in the short term.