South Korea blocks 27 crypto exchanges, including Bitmart and Kucoin
The country’s regulators are stepping up their earlier restrictions on mobile apps to websites, targeting unregistered exchanges before investors report losses.
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Summary
- South Korea is blocking the websites of 27 unregistered cryptocurrency exchanges, including KuCoin, BitMart and MEXC, after restricting access to their mobile apps last year.
- Foreign exchanges must register with the Financial Intelligence Unit and meet security and anti-money-laundering requirements to legally serve South Korean customers.
- Regulators warned that customers of unauthorized platforms may struggle to recover funds and urged investors to verify registration and withdraw their assets.
