South Korea’s Financial Intelligence Unit (FIU) and the Korea Communications Standards Commission have approved the blocking of websites for 27 unregistered cryptocurrency exchanges. This action targets major platforms including BitMart, KuCoin, and MEXC, extending previous restrictions that limited access to their mobile applications.
The regulatory move allows authorities to block overseas-operated websites and terminate services for domestic operators without waiting for a court ruling or evidence of customer financial loss. Regulators warned that users of these unauthorized platforms may face difficulties recovering funds and urged investors to verify registration status and withdraw assets.
Key facts
- The FIU and KCSC approved the blocking of 27 unregistered exchange websites on October 13, 2026.
- Affected platforms include BitMart, KuCoin, and MEXC.
- Domestic operators face service termination while overseas sites are blocked.
- Blocks were applied without prior court rulings or proof of customer loss.
- Only 28 virtual asset service providers are currently registered with the regulator.
- The FIU has referred 44 unregistered operators to investigators.
Why it matters
Regulators stated that customers of unauthorized platforms may struggle to recover funds if they continue using these services.