South Korean authorities fine Bithumb $136K over sharing user information overseas
South Korean regulators fined Bithumb $136,000 for violating personal information protection rules by sending user data overseas without separate consent. The Personal Information Protection Commission said Bithumb shared order-book and transfer data with foreign virtual asset exchanges, including sharing USDT order books with BingX while having consent tied to Stellar, and also disclosed user information to 13 overseas exchanges. Regulators said anti-money-laundering needs do not remove the requirement to follow strict consent and transfer procedures. Bithumb is already under heavy scrutiny in South Korea, facing past regulatory actions and police investigations. South Korea is also moving toward a 22% crypto gains tax starting in January 2027.
