Bithumb Halts Tether Order Book Sharing Amid Regulatory Pressure
South Korean exchange Bithumb is suspending its Tether (USDT) order book sharing service due to financial regulator pressure. The service, which allowed trading of Bitcoin and nine altcoins against USDT via an arrangement with Australia's Stellar, will shut down on November 28th for system maintenance.
Analysts suggest this action stems from concerns over Bithumb's anti-money laundering (AML) compliance, reflecting a global trend of increased regulatory scrutiny on crypto exchanges' partnerships and frameworks. The move highlights the challenges exchanges face in navigating evolving regulations.