South Korea moves to block 27 crypto websites, including KuCoin, MEXC
Authorities said the restrictions are aimed at unregistered exchanges and have acknowledged that customers could have difficulty withdrawing assets.
South Korean authorities have taken measures to block access to 27 websites operated by unregistered cryptocurrency exchanges and virtual asset service providers, including KuCoin, MEXC, Phemex, and Bitrue. The decision, announced by the Financial Intelligence Unit (FIU) on Tuesday, stems from reviews conducted by the Korea Media and Communications Standards Commission on October 6 and 7.
The blocked websites are those that have not registered under South Korea's anti-money laundering legislation, the Act on Reporting and Using Specified Financial Transaction Information. The FIU stated that the restrictions apply not only to domestic access but also to internet websites, following mobile apps available on platforms like Apple and Google.
Authorities are expected to provide guidance and support for users' withdrawals through the Digital Asset eXchange Alliance (DAXA), in collaboration with the affected exchange operators.
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