South Korea Cuts Off 27 Unregistered Crypto Platforms

Regulators in Seoul have blocked access to 27 foreign crypto exchanges operating without local approval. Among them are KuCoin, MEXC, Phemex, Bitrue, BitMart, BingX, CoinW, BTCC, XT.com and DigiFinex.

The Financial Intelligence Unit acted after the Korea Communications Standards Commission reviewed the cases on October 6-7. Any overseas platform showing signs of targeting Korean users — Korean-language site, local marketing or KRW pairs — must register first.

User accounts and holdings stay untouched, yet withdrawals could become difficult. Those affected can turn to the Digital Asset Exchanges Association for support.

This follows April 2025 restrictions that already removed 14 and 17 unregistered apps from Apple and Google stores. The new move extends the same controls to websites.

Based on information from cryptonews.net