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South Korean Bitcoin lender Delio to sue financial regulators

South Korean Bitcoin lender Delio is gearing up to file an administrative lawsuit against the country’s Financial Service Committee (FSC). The firm contends that the FSC’s allegations of fraud and embezzlement are unfounded and stem from a flawed interpretation of existing laws. Delio argues that the regulatory body has acted unreasonably. According to local reports, Delio claims that these actions are indicative of the financial authorities’ intent to shut down the firm rather than allow it to rectify its operations. The lawsuit comes at a critical juncture for Delio, as the FIU’s sanctions and asset seizures could jeopardize the company’s ongoing operations.

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