South Korea’s Financial Intelligence Unit (FIU) and the Korea Communications Standards Commission have decided to block domestic access to 27 websites operated by unregistered virtual asset service providers (VASPs). The measure expands existing restrictions on mobile apps in app marketplaces to include websites, aiming to strengthen consumer protection and prevent money laundering. To legally operate a virtual asset business in South Korea, providers must meet relevant requirements, including Information Security Management System (ISMS) certification, and register with the FIU. Overseas platforms targeting Korean users may also be subject to Korean regulations. This move highlights the growing importance of regulatory compliance, proper registration, and consumer protection frameworks in the crypto market. Overall, as South Korea’s crypto market continues to develop, regulatory compliance and business registration are becoming increasingly important. Beyond service competitiveness, legal operating status and reliable operational frameworks are likely to become key factors for participating in the market. 👀