Bithumb is reportedly seeking to reappoint CEO Lee Jae-won despite mounting regulatory pressure and recent controversies.
The South Korean exchange plans to vote on extending Lee’s term at a shareholder meeting on March 31. If approved, he would remain in the role for another two years.
The move comes shortly after the Financial Intelligence Unit imposed a six-month partial suspension and fined the company over alleged anti-money laundering failures. The penalties restrict new customers from making external crypto transfers through late September.
Bithumb has also faced scrutiny following an operational error that mistakenly credited users with large amounts of Bitcoin during a promotional campaign.
Additional investigations into the exchange’s practices could impact its license renewal. Despite these challenges, Bithumb remains one of South Korea’s largest crypto platforms, trailing only Upbit in trading volume.
The decision highlights tensions between growth ambitions and tightening regulatory oversight in the region.
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