đ°đ· SOUTH KOREA JUST BLOCKED 27 CRYPTO EXCHANGES
On Oct 13, South Korea's Financial Intelligence Unit (FIU) blocked domestic access to 27 unregistered overseas exchanges, after a review by the Korea Communications Standards Commission. KuCoin, MEXC, Phemex, BingX, BitMart and more are now cut off for Korean users at the network level.
These platforms never registered with the FIU or got the required security certification, so serving Korean users is illegal there. Operators face up to 5 years in prison. Per reports, 44 unregistered operators have been referred to authorities in total, while only around 28 domestic platforms are properly registered.
What's confirmed vs not:
â The block is live, and existing users may have trouble withdrawing
â DAXA, the Korean exchange alliance, is handling user support and escalations
â Nobody has said funds are frozen, and access is blocked, not seized
â Blocked sites can switch URLs, so how well the block actually works is still unclear
Korea is one of the biggest retail crypto markets on earth. Pushing traders off offshore platforms means less offshore volume and liquidity on those exchanges, especially for altcoins with heavy Korean trading, and more flow back to local exchanges like Upbit and Bithumb.
What you should do:
âą If you're in Korea and use one of these exchanges, withdraw to a registered exchange or your own wallet NOW
âą Don't use random mirror URLs or "unblock" links, because that's where phishing hits
âą Contact DAXA if your withdrawal gets stuck
âą Never share your seed or 2FA with "support" DMs
Daily chart analysis
Bitcoin is still far above the daily MA99 and MA200 (~72â73K), so the big trend is intact. $BTC below MA25 (~83.9K), though, so bulls need to reclaim that first.
Reclaim 84K â 87.2K range high is back in play
Lose 80.3K â the weekly structure breaks, fear takes over
#UKHighCourtRulesChineseLawGovernsBitcoinClaims
On Oct 13, South Korea's Financial Intelligence Unit (FIU) blocked domestic access to 27 unregistered overseas exchanges, after a review by the Korea Communications Standards Commission. KuCoin, MEXC, Phemex, BingX, BitMart and more are now cut off for Korean users at the network level.
These platforms never registered with the FIU or got the required security certification, so serving Korean users is illegal there. Operators face up to 5 years in prison. Per reports, 44 unregistered operators have been referred to authorities in total, while only around 28 domestic platforms are properly registered.
What's confirmed vs not:
â The block is live, and existing users may have trouble withdrawing
â DAXA, the Korean exchange alliance, is handling user support and escalations
â Nobody has said funds are frozen, and access is blocked, not seized
â Blocked sites can switch URLs, so how well the block actually works is still unclear
Korea is one of the biggest retail crypto markets on earth. Pushing traders off offshore platforms means less offshore volume and liquidity on those exchanges, especially for altcoins with heavy Korean trading, and more flow back to local exchanges like Upbit and Bithumb.
What you should do:
âą If you're in Korea and use one of these exchanges, withdraw to a registered exchange or your own wallet NOW
âą Don't use random mirror URLs or "unblock" links, because that's where phishing hits
âą Contact DAXA if your withdrawal gets stuck
âą Never share your seed or 2FA with "support" DMs
Daily chart analysis
Bitcoin is still far above the daily MA99 and MA200 (~72â73K), so the big trend is intact. $BTC below MA25 (~83.9K), though, so bulls need to reclaim that first.
Reclaim 84K â 87.2K range high is back in play
Lose 80.3K â the weekly structure breaks, fear takes over
#UKHighCourtRulesChineseLawGovernsBitcoinClaims