South Korean financial regulators recommend firing Delio CEO, Delio prepares to file an administrative lawsuit

ChainCatcher news, according to Decenter citing informed sources, the Financial Intelligence Unit (FIU) of the Financial Services Commission (FSC) of South Korea has suggested the dismissal of Delio CEO Jung Sang-ho (phonetic) through a sanctions announcement. Previously, the FIU also imposed a three-month business suspension on Delio and fined it 1.896 billion won.

Delio is preparing to file an administrative lawsuit regarding this matter. Delio CEO Jung Sang-ho stated, "The sanctions from the financial intelligence agency leave a lot of room for unreasonable legal interpretations and arbitrary applications, and such actions by the financial authorities could stifle the domestic virtual asset industry."