South Korea Blocks 27 Unregistered Crypto Websites

South Korean authorities have approved measures to block domestic access to 27 websites operated by unregistered crypto exchanges and other virtual asset service providers, according to an announcement by the country's Financial Intelligence Unit (FIU).

The decision follows reviews conducted by the Korea Media and Communications Standards Commission on Oct. 6 and 7. The blocked platforms include major international exchanges such as KuCoin, MEXC, Phemex, Bitrue, CoinW, BTCC, BitMart, BingX, and DigiFinex.

Scope of Restrictions

The enforcement targets platforms that have failed to register under the Act on Reporting and Using Specified Financial Transaction Information, South Korea’s anti-money laundering legislation. The FIU stated that blocking measures against illegal virtual asset operators now extend to internet websites, following prior restrictions on mobile applications.

In April 2025, South Korea blocked downloads and updates for 14 unregistered exchange apps on Apple’s App Store, following earlier restrictions on 17 apps through Google Play. Authorities evaluate whether overseas operators target local users by examining Korean-language services, localized marketing, and support for transactions in the South Korean won.

Withdrawal Concerns

The FIU acknowledged that the website blocks could create difficulties for existing customers attempting to withdraw assets. To mitigate this, the agency stated it plans to provide withdrawal guidance and support through the Digital Asset eXchange Alliance (DAXA), working in cooperation with the platform operators.

Key facts

• South Korea's FIU approved measures to block 27 unregistered crypto websites, including KuCoin and MEXC.
• The decision follows reviews by the Korea Media and Communications Standards Commission on Oct. 6 and 7.
• Platforms affected failed to register under the Act on Reporting and Using Specified Financial Transaction Information.
• The FIU plans to provide withdrawal guidance through DAXA in cooperation with operators.