South Korean authorities have approved measures to block domestic access to 27 websites operated by unregistered cryptocurrency exchanges and other virtual asset service providers, including KuCoin, MEXC, Phemex, Bitrue, CoinW, BTCC, BitMart, BingX and DigiFinex.
The Financial Intelligence Unit said the Korea Media and Communications Standards Commission reviewed the sites on Oct. 6 and 7 before deciding on the restrictions. The action applies to platforms that have not registered under South Korea’s Act on Reporting and Using Specified Financial Transaction Information, which governs anti-money-laundering obligations for virtual asset businesses.
The measures cover both domestic and overseas operations. Services hosted in South Korea may be terminated, while access to overseas websites may be blocked. Authorities determine whether a foreign operator is targeting Korean customers by examining factors such as Korean-language services, marketing aimed at South Korean users and support for transactions in Korean won.
The website restrictions extend an earlier campaign against unregistered crypto platforms. South Korea previously blocked downloads and updates for 17 exchange applications through Google Play and later restricted 14 applications through Apple’s App Store.
Authorities acknowledged that users with existing accounts could face difficulty withdrawing their assets after the websites are blocked. The Financial Intelligence Unit said withdrawal instructions and assistance would be provided through the Digital Asset eXchange Alliance, with cooperation from the affected operators.