PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners. Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners. Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.
Bithumb will cease its Tether-based order book sharing service under regulatory pressure.
PANews reported on November 27th that, according to DL News, South Korean financial regulators have urged Bithumb to suspend its Tether (USDT) market service, which allows customers to buy and sell Bitcoin and nine high-market-cap altcoins using USDT. Bithumb stated that the service is still in the testing phase and that it has reached an order book sharing agreement with Australian cryptocurrency exchange Stellar. Due to system maintenance, Bithumb plans to shut down the service on November 28th and restructure it to "provide a more stable and advanced trading environment," adding that it will announce the reopening date separately. Some analysts believe this move may stem from regulators' distrust of exchanges' ability to fulfill anti-money laundering obligations, potentially leading to the termination of order book sharing practices with international partners.
Sources indicate that the crypto industry widely believes Bithumb has effectively abandoned its USDT marketplace service after two months of intensive investigation and pressure from financial regulators. Shortly after launching its USDT marketplace service, Bithumb was summoned by the Financial Intelligence Unit (FIU) due to concerns that the service could expose domestic customers to data breaches and money laundering risks. According to South Korean media outlet Newsis, Bithumb also underwent additional on-site inspections by the FIU regarding its order book.
Market Opportunity
Orderly Network Price(ORDER)
$0.0912
$0.0912$0.0912
USD
Orderly Network (ORDER) Live Price Chart
Disclaimer: The articles reposted on this site are sourced from public platforms and are provided for informational purposes only. They do not necessarily reflect the views of MEXC. All rights remain with the original authors. If you believe any content infringes on third-party rights, please contact service@support.mexc.com for removal. MEXC makes no guarantees regarding the accuracy, completeness, or timeliness of the content and is not responsible for any actions taken based on the information provided. The content does not constitute financial, legal, or other professional advice, nor should it be considered a recommendation or endorsement by MEXC.
You May Also Like
CLARITY Act ‘Has a Long Way to Go‘
The post CLARITY Act ‘Has a Long Way to Go‘ appeared on BitcoinEthereumNews.com. David Solomon, CEO of banking giant Goldman Sachs, has weighed in on the pending
Share
BitcoinEthereumNews2026/01/17 11:16
EUR/CHF slides as Euro struggles post-inflation data
The post EUR/CHF slides as Euro struggles post-inflation data appeared on BitcoinEthereumNews.com. EUR/CHF weakens for a second straight session as the euro struggles to recover post-Eurozone inflation data. Eurozone core inflation steady at 2.3%, headline CPI eases to 2.0% in August. SNB maintains a flexible policy outlook ahead of its September 25 decision, with no immediate need for easing. The Euro (EUR) trades under pressure against the Swiss Franc (CHF) on Wednesday, with EUR/CHF extending losses for the second straight session as the common currency struggles to gain traction following Eurozone inflation data. At the time of writing, the cross is trading around 0.9320 during the American session. The latest inflation data from Eurostat showed that Eurozone price growth remained broadly stable in August, reinforcing the European Central Bank’s (ECB) cautious stance on monetary policy. The Core Harmonized Index of Consumer Prices (HICP), which excludes volatile items such as food and energy, rose 2.3% YoY, in line with both forecasts and the previous month’s reading. On a monthly basis, core inflation increased by 0.3%, unchanged from July, highlighting persistent underlying price pressures in the bloc. Meanwhile, headline inflation eased to 2.0% YoY in August, down from 2.1% in July and slightly below expectations. On a monthly basis, prices rose just 0.1%, missing forecasts for a 0.2% increase and decelerating from July’s 0.2% rise. The inflation release follows last week’s ECB policy decision, where the central bank kept all three key interest rates unchanged and signaled that policy is likely at its terminal level. While officials acknowledged progress in bringing inflation down, they reiterated a cautious, data-dependent approach going forward, emphasizing the need to maintain restrictive conditions for an extended period to ensure price stability. On the Swiss side, disinflation appears to be deepening. The Producer and Import Price Index dropped 0.6% in August, marking a sharp 1.8% annual decline. Broader inflation remains…
Share
BitcoinEthereumNews2025/09/18 03:08
Today’s Wordle #1673 Hints And Answer For Saturday, January 17
The post Today’s Wordle #1673 Hints And Answer For Saturday, January 17 appeared on BitcoinEthereumNews.com. How to solve today’s Wordle. SOPA Images/LightRocket
Share
BitcoinEthereumNews2026/01/17 11:24