South Korea has taken steps to block domestic access to 27 websites run by unregistered crypto exchanges, including KuCoin, MEXC, Phemex, and Bitrue. The Financial Intelligence Unit (FIU) announced the decision on Tuesday, following reviews by the Korea Media and Communications Standards Commission on October 6 and 7. The list of blocked sites also includes CoinW, BTCC, BitMart, BingX, DigiFinex, and others. These platforms have failed to register under South Korea’s anti-money laundering legislation.
The blocking measures will extend beyond mobile apps, which were previously restricted, to include internet websites. The FIU stated that the move aims to terminate services hosted domestically or block access to overseas-operated websites. South Korea had earlier blocked downloads and updates for 14 unregistered crypto exchange apps on Apple’s App Store and 17 apps on Google Play.
The FIU assesses whether overseas operators target Korean customers by examining factors like Korean-language services, marketing to South Korean users, or supporting transactions in Korean won. The agency acknowledged that the website blocks could complicate withdrawals for existing users and plans to provide withdrawal guidance and support through the Digital Asset eXchange Alliance (DAXA).