South Korea · Google · Apple · CoinDesk
The FIU did not specify how long the restrictions will last or set a deadline for the exchanges to register
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Key facts
- The country’s Financial Intelligence Unit (FIU) announced Tuesday that the Korea Communications Standards Commission approved the restrictions following reviews on Oct. 6 and 7
- Diversified RWA stablecoins sustain 5-7% yield from real credit as crypto funding compresses to ~4%
- South Korean investors have been gradually moving large amounts of crypto overseas for months due to stricter rules, with an estimated $110 billion leaving domestic exchanges in 2025
- South Korea is blocking access to 27 unregistered crypto exchanges' websites, including KuCoin, BitMart, and MEXC, extending its crackdown on foreign trading platforms beyond their mobile apps
Summary
South Korea is blocking the websites of 27 unregistered cryptocurrency exchanges, including KuCoin, BitMart and MEXC, after restricting access to their mobile apps last year. Foreign exchanges must register with the Financial Intelligence Unit and meet security and anti-money-laundering requirements to legally serve South Korean customers. Regulators warned that customers of unauthorized platforms may struggle to recover funds and urged investors to verify registration and withdraw their assets. South Korea is blocking access to 27 unregistered crypto exchanges' websites, including KuCoin, BitMart, and MEXC, extending its crackdown on foreign trading platforms beyond their mobile apps. The country’s Financial Intelligence Unit (FIU) announced Tuesday that the Korea Communications Standards Commission approved the restrictions following reviews on Oct. 6 and 7.