South Korea moves to block 27 crypto websites, including KuCoin, MEXC

Authorities said the restrictions are aimed at unregistered exchanges and have acknowledged that customers could have difficulty withdrawing assets. South Korean authorities have approved measures to block domestic access to 27 websites operated by unregistered crypto exchanges and other virtual asset service providers, including KuCoin, MEXC, Phemex and Bitrue. In an >announcement on Tuesday, South Korea’s Financial Intelligence Unit (FIU) said the decision followed reviews by the Korea Media and Communications Standards Commission on Oct. 6 and 7. The list also includes CoinW, BTCC, BitMart, BingX, DigiFinex and others. The block applies to crypto platforms that have not registered under the Act on Reporting and Using Specified Financial Transaction Information, the country’s anti-money laundering legislation. “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 said, according to a translation. The measures involve terminating services hosted domestically or blocking access to websites operated overseas. The move follows earlier restrictions on mobile apps. Cointelegraph reported in April 2025 that South Korea had blocked downloads and updates for 14 unregistered crypto exchange apps on Apple’s App Store, following restrictions on 17 apps through Google Play. The FIU said authorities assess whether overseas operators target Korean customers by looking at whether platforms offer Korean-language services, market to South Korean users or support transactions in Korean won. The FIU acknowledged the website blocks could complicate withdrawals for existing users. It said it plans to provide withdrawal guidance and support through the Digital Asset eXchange Alliance, or DAXA, with cooperation from the operators. Related: South Korea crypto exchange profits fall 78% in H1 amid trading slump