PANews reported on March 23 that, according to Cointelegraph, Bithumb, South Korea's second-largest cryptocurrency exchange, plans to seek approval for CEO Lee Jae-won's re-election for two years at its shareholders' meeting on March 31. Despite recent penalties from the Korean Financial Intelligence Service, including a six-month suspension of some operations and a 36.8 billion won fine, for alleged anti-money laundering violations, and regulatory scrutiny in February for mistakenly sending 620,000 bitcoins to users during a promotional campaign, the board has proposed that Lee remain in office. Bithumb is also currently under investigation for sharing order books with overseas platforms, which could affect the renewal of its virtual asset service provider license.