South Korea blocks 27 overseas crypto exchange sites, including KuCoin and MEXC.
The Financial Intelligence Unit announced on October 13 that 27 overseas crypto exchange websites, including KuCoin and MEXC, are blocked after reviews on October 6‑7.
Crypto exchanges must obtain ISMS certification and file with the FIU; unregistered operators face up to five years in prison or fines of up to 50 million won (over $37,000), and the FIU has already referred 44 providers to investigators and limited credit‑card purchases.
Guidance for withdrawals will be issued via DAXA, and the FIU will monitor alternative domains for further blocks.
How should global crypto platforms adapt to South Korea’s tightening regulatory landscape?
#Crypto #FinTech #Regulation #SouthKorea
The Financial Intelligence Unit announced on October 13 that 27 overseas crypto exchange websites, including KuCoin and MEXC, are blocked after reviews on October 6‑7.
Crypto exchanges must obtain ISMS certification and file with the FIU; unregistered operators face up to five years in prison or fines of up to 50 million won (over $37,000), and the FIU has already referred 44 providers to investigators and limited credit‑card purchases.
Guidance for withdrawals will be issued via DAXA, and the FIU will monitor alternative domains for further blocks.
How should global crypto platforms adapt to South Korea’s tightening regulatory landscape?
#Crypto #FinTech #Regulation #SouthKorea