South Korea Implements Ban on 17 Cryptocurrency Exchanges
South Korean regulators have ordered Google to restrict access to 17 unregistered crypto exchanges as the country steps up enforcement against illegal crypto operations.
South Korea Implements Ban on 17 Cryptocurrency Exchanges
South Korea regulators have requested Google to block access to 17 unregistered crypto exchanges. Affected exchanges include KuCoin, MEXC, Phemex, Coinex, Poloniex, and more.
馃毃 South Korea requests Google to block access to 17 unregistered crypto exchanges. Affected platforms include KuCoin, MEXC, Phemex, Coinex, Poloniex, and more. Users can no longer install or update apps from these exchanges in South Korea. pic.twitter.com/5zMk8wwQOs
The Financial Intelligence Unit (FIU) has identified several unreported overseas businesses and has warned local firms about interacting with them. This means that South Korean crypto users are forbidden from downloading these applications, and current users will not receive updates.
Recently, the FIU intensified its enforcement against various cryptocurrency exchanges, including KuCoin and BitMex, due to their operation without registration as Virtual Asset Service Providers (VASPs).
Additionally, local media reports indicate that the number of domestic investors owning cryptocurrencies has surged by over 50% over the past year, reaching more than 9.6 million individuals.
Key Takeaways
- South Korean regulators have requested Google to block access to 17 cryptocurrency exchanges.
- Affected exchanges include KuCoin, MEXC, Phemex, Coinex, Poloniex, and others.
- The number of domestic investors owning cryptocurrencies has grown by over 50% last year, exceeding 9.6 million.
