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.
South Korean regulators are increasing restrictions on mobile applications by shifting them to websites, a move targeting unregistered exchanges to protect investors before losses are reported, according to CoinDesk.
Separately, the South Korean benchmark KOSPI index fell over 6% on Tuesday, dropping below the 6,000-point mark. Business Recorder reports that the Korea Exchange implemented a temporary five-minute trading curb after the KOSPI 200 futures index fell 5.08%.
The market decline was driven by concerns regarding Chinese semiconductor manufacturers narrowing the technology gap with global rivals, according to analyst Kang Jin-hyuk of Shinhan Investment & Securities. Significant losses were noted in Samsung Electronics, SK Hynix, and LG Energy Solution.
Brief written by urgent.news from CoinDesk, Fortune, Business Recorder — 3 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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