According to South Korean financial authorities and crypto industry sources, the Financial Intelligence Analysis Unit (FIU), which is part of the Financial Commission, is investigating whether Bithumb had procedural issues in the process of sharing the order book with Australia's Stellar. "We are reviewing the adequacy of the procedures," the financial authority source said. "We will also look into taking necessary measures if violations of the Specific Financial Transaction Information Reporting and Use Act (the Trump-Kim Act) are confirmed."
Bithumb opened the Tether (USDT) market on the afternoon of the 22nd and announced that it will share the order book with Stellar. Order book sharing means that buy and sell orders are shared between exchanges, that is, transactions can be made between customers of Bithumb and Stellar.
Liquidity can be increased by sharing orders between exchanges, but the current Trump-Kim law prohibits exchanges from buying, selling or intermediating exchanges if strict conditions are not followed. According to the Trump-Kim law, to legally conduct transactions, relevant crypto asset operators must obtain licenses, registrations or reports in China or overseas, and fulfill anti-money laundering obligations.
South Korean financial authorities investigate order-sharing between Bithumb and overseas crypto exchanges
2025-09-23 02:26:06
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