South Korea has ordered domestic access restrictions on 27 unregistered overseas crypto exchanges, including KuCoin, MEXC and BingX. The move extends an existing crackdown from mobile apps to websites.
The country's Financial Intelligence Unit (FIU) said the decision followed reviews by the Korea Media and Communications Standards Commission on Oct. 6 and 7. The exchanges named include KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BingX and BitMart.
What the restrictions cover
The block applies to crypto platforms that have not registered under the Act on Reporting and Using Specified Financial Transaction Information, the country's anti-money laundering legislation. Sites with servers or operators in South Korea will be subject to service termination, while overseas-based sites will be blocked from domestic access.
Until now, enforcement focused on app marketplaces. Financial authorities had barred unregistered operators from allowing users to newly install or update mobile applications through marketplaces including Google and Apple. "With this decision, blocking measures against illegal virtual asset operators will also apply to internet websites," the FIU said, according to a translation.
The agency has also referred 44 unregistered virtual asset service providers to investigative authorities.
Registration rules for foreign platforms
Foreign platforms serving South Korean residents are expected to register locally. Overseas platforms serving South Korean users must obtain Information Security Management System (ISMS) certification and register with the FIU. Authorities assess whether overseas platforms target South Korean customers by examining Korean-language services, marketing aimed at local users and support for transactions in Korean won.
The FIU framed the move as a user-safety measure, pointing to risks such as asset theft, fraud and data leaks on platforms outside the domestic regulatory perimeter.
The blocks could also affect users who already hold funds on these platforms. The FIU acknowledged that website blocks could complicate withdrawals for existing users and said it will coordinate withdrawal guidance through DAXA.
The website measures follow earlier steps against apps. In April 2025, authorities blocked downloads and updates for 14 unregistered crypto exchange apps on Apple's App Store after restricting 17 apps on Google Play. Google Play also mandated VASP registration from January 28, 2026, a requirement that affected platforms such as Binance and OKX.
The latest action adds a further layer of enforcement for offshore exchanges that serve Korean users without local registration.
Sources
Cointelegraph: South Korea Moves to Block 27 Crypto Exchange Sites
Crypto Briefing: South Korea blocks access to 27 unregistered overseas crypto exchanges
TokenPost: South Korea Moves to Block Access to 27 Unregistered Crypto Exchanges