South Korea Approves Blocks on 27 Crypto Websites
South Korea approved measures to block domestic access to 27 websites run by unregistered crypto platforms, including KuCoin, MEXC, Phemex and Bitrue.
South Korea’s Financial Intelligence Unit announced the decision Tuesday after the Korea Media and Communications Standards Commission reviewed the websites on Oct. 6 and 7. The list also includes CoinW, BTCC, BitMart, BingX and DigiFinex.
The restrictions apply to platforms that have not registered under the Act on Reporting and Using Specified Financial Transaction Information, South Korea’s anti-money-laundering law. Authorities can terminate services hosted in the country or block access to websites operated overseas.
“With this decision, blocking measures against illegal virtual asset operators will also apply to internet websites, following apps such as those on Apple and Google,” the FIU wrote in a translated statement.
Authorities assess whether overseas platforms target South Korean customers by examining Korean-language services, marketing aimed at local users and support for transactions in Korean won.
The website restrictions follow earlier action against mobile applications. In April 2025, authorities blocked downloads and updates for 14 unregistered crypto exchange apps on Apple’s App Store after restricting 17 apps on Google Play.
The FIU acknowledged that blocking the websites could make it harder for existing customers to withdraw funds. It plans to provide withdrawal guidance and assistance through the Digital Asset eXchange Alliance, or DAXA, in cooperation with the affected operators.
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