South Korea’s Financial Intelligence Unit moves to restrict access to 27 foreign cryptocurrency exchange websites, including KuCoin and MEXC. The action targets platforms regulators say have continued operating without domestic registration.
The restriction builds on earlier steps taken against unregistered crypto apps distributed through Google Play and Apple’s App Store. Regulators say limiting early access is intended to reduce consumer harm, while registered businesses are subject to penalties if transactions involve unregistered operators.
Several outlets also note that the measures may create practical difficulties for users, including potential challenges withdrawing assets. The reported restrictions are presented as part of a broader crackdown on crypto operators that are not properly registered in South Korea.
