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Unit is the asset tokenization layer on Hyperliquid, enabling seamless deposits and withdrawals for a variety of assets. Through its first integration, Unit supports the free flow of mainstream crypto assets like BTC, ETH, and SOL between Hyperliquid and their native blockchains.
South Korean exchange Coinone sues the Financial Intelligence Unit (FIU) in an attempt to halt regulatory penalties
South Korean crypto exchange Coinone has filed a lawsuit against the Financial Intelligence Unit (FIU) regarding its penalties and has applied for a stay of execution with the Seoul Administrative Court, attempting to suspend the relevant measures before the sanctions take effect on April 29.The core of the sanctions is to restrict new users from depositing and withdrawing crypto assets to and from external exchanges. Previously, the FIU imposed a three-month partial business suspension and a fine of 5.2 billion Korean won on Coinone for violating the Specific Financial Information Act. (Naver)
UK FCA Raids Multiple Suspected Illegal P2P Cryptocurrency Trading Venues
Odaily News: The UK Financial Conduct Authority (FCA), in collaboration with HM Revenue & Customs and the South West Regional Organised Crime Unit, recently conducted raids on eight locations across the UK suspected of engaging in illegal P2P cryptocurrency trading. Officials issued prohibition orders on-site, requiring the operators to cease activities immediately and gathered relevant evidence. The UK FCA pointed out that currently, no P2P cryptocurrency traders or platforms are registered with the regulator in the UK. Furthermore, in the recent multi-agency Operation Atlantic, law enforcement agencies froze $12 million in assets linked to cryptocurrency scams and traced over $45 million in stolen cryptocurrency. The UK FCA has now launched a consultation on its guidelines for the cryptocurrency regulatory framework set to take effect in 2027.
Upbit operator Dunamu wins lawsuit against Korea Financial Intelligence Unit; three-month suspension order revoked
According to DigitalAsset, a South Korean court ruled in favor of Dunamu—the operator of Upbit—in an administrative lawsuit it filed against the Financial Intelligence Unit (FIU), overturning the FIU’s administrative penalty ordering a three-month partial suspension of Dunamu’s operations. The court found that, in the absence of specific implementation guidelines from regulatory authorities, Dunamu had taken certain measures—including requesting written commitments from customers and conducting internal monitoring. Although the court acknowledged that whether these measures were sufficient to prevent transactions with unregistered operators remained debatable, it held that Dunamu had fulfilled its reasonable obligations given the lack of clear regulatory guidance. Previously, the FIU had imposed the three-month partial business suspension on Upbit for inadequacies in its controls over transactions with unregistered operators.
Related news
MoonPay Acquires Israeli Security Firm Sodot for $100 Million, Establishing Institutional Business Unit
According to Bloomberg, crypto payments company MoonPay has acquired Israeli crypto security startup Sodot and established a new division—“MoonPay Institutional”—based on this acquisition, focusing on meeting institutional clients’ digital asset needs. The division will provide services including trading, tokenized securities, payments, wallet management, and stablecoin issuance to major traditional financial institutions. Former U.S. Commodity Futures Trading Commission (CFTC) Acting Chair Caroline D. Pham will serve as head of the division; she joined MoonPay in late 2025 as Chief Legal Officer and Chief Administrative Officer.
South Korean exchange Coinone sues the Financial Intelligence Unit (FIU) in an attempt to halt regulatory penalties
South Korean crypto exchange Coinone has filed a lawsuit against the Financial Intelligence Unit (FIU) regarding its penalties and has applied for a stay of execution with the Seoul Administrative Court, attempting to suspend the relevant measures before the sanctions take effect on April 29.The core of the sanctions is to restrict new users from depositing and withdrawing crypto assets to and from external exchanges. Previously, the FIU imposed a three-month partial business suspension and a fine of 5.2 billion Korean won on Coinone for violating the Specific Financial Information Act. (Naver)
UK FCA Raids Multiple Suspected Illegal P2P Cryptocurrency Trading Venues
Odaily News: The UK Financial Conduct Authority (FCA), in collaboration with HM Revenue & Customs and the South West Regional Organised Crime Unit, recently conducted raids on eight locations across the UK suspected of engaging in illegal P2P cryptocurrency trading. Officials issued prohibition orders on-site, requiring the operators to cease activities immediately and gathered relevant evidence. The UK FCA pointed out that currently, no P2P cryptocurrency traders or platforms are registered with the regulator in the UK. Furthermore, in the recent multi-agency Operation Atlantic, law enforcement agencies froze $12 million in assets linked to cryptocurrency scams and traced over $45 million in stolen cryptocurrency. The UK FCA has now launched a consultation on its guidelines for the cryptocurrency regulatory framework set to take effect in 2027.
Tradexyz’s parent company, Unit Labs, applies for a meeting with the U.S. CFTC
According to official CFTC information, Unit Labs—the parent company of Unitxyz and Tradexyz—requested a meeting with the U.S. Commodity Futures Trading Commission (CFTC) on April 7.
Florida and Massachusetts Recover $5.4 Million in Crypto Fraud Funds
According to Cryptopolitan, approximately $5.4 million worth of cryptocurrency assets have been recovered in a crypto-investment scam that originated as a “romance scam” involving both Florida and Massachusetts. Of this amount, around $700,000 has been returned to victims in Florida, and $1.3 million to victims in Massachusetts; the remaining funds will be used to continue combating crypto scams. Florida prosecutors stated that victims in this case are spread across six counties within the state, with a single victim from Marion County losing over $450,000. Florida’s Cyber Fraud Enforcement Unit reported that $3.3 million was recovered in Q1 2026, bringing its cumulative recoveries since its establishment 2.5 years ago to $7.2 million; an additional $12.6 million in frozen cryptocurrency assets remains under litigation.
Upbit operator Dunamu wins lawsuit against Korea Financial Intelligence Unit; three-month suspension order revoked
According to DigitalAsset, a South Korean court ruled in favor of Dunamu—the operator of Upbit—in an administrative lawsuit it filed against the Financial Intelligence Unit (FIU), overturning the FIU’s administrative penalty ordering a three-month partial suspension of Dunamu’s operations. The court found that, in the absence of specific implementation guidelines from regulatory authorities, Dunamu had taken certain measures—including requesting written commitments from customers and conducting internal monitoring. Although the court acknowledged that whether these measures were sufficient to prevent transactions with unregistered operators remained debatable, it held that Dunamu had fulfilled its reasonable obligations given the lack of clear regulatory guidance. Previously, the FIU had imposed the three-month partial business suspension on Upbit for inadequacies in its controls over transactions with unregistered operators.