According to Cryptonews, South Korean cryptocurrency exchange Bithumb has overcome a key legal obstacle in its efforts to become the country's first platform to launch an IPO. The Supreme Court ruled against the prosecution in a long-standing fraud case involving Lee Jung hoon, former CEO of Bithumb Holdings and CEO of Bithumb Korea. Bithumb is now expected to accelerate its initial public offering (IPO) process as the legal risks surrounding Lee Jung hoon have been eliminated. Lee Jung hoon is also a major shareholder of Bithumb. According to reports, Bithumb hopes to follow the example of Coinbase in the United States and Coincheck in Japan and list on the NASDAQ stock exchange. There are at least two key obstacles as Bithumb continues to advance its IPO plan. The first one is the uncertainty of the ongoing investigation by the Financial Intelligence Unit (FIU). FIU launched an on-site inspection of Bithumb on March 17th, and the inspection will end on March 28th. Regulatory authorities hope to investigate Bithumb's compliance with anti money laundering (AML) obligations and other aspects. In the previous investigation of Upbit, FIU discovered a large number of KYC violations. The second obstacle involves Bithumb's complex ownership structure and ongoing questions about who owns the platform. Although the legal case has resolved some issues, there are still doubts about the relationship between the mysterious businessman Kang Jong hyun and the exchange. The media wrote, "Clarifying its governance structure will be an urgent task for Lee Jung hoon and Bithumb