South Korea Blocks 27 Crypto Exchanges, Including KuCoin and MEXC

South Korea has ordered web blocks on 27 unregistered offshore crypto exchanges. The Financial Intelligence Unit (FIU) announced the move on October 13, 2026. KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BingX and Bitmart are among the names affected. The order extends an earlier app-store ban to the web, so opening a browser no longer works as a workaround. For Korean traders, that leaves one clear path. Only FIU-registered exchanges operate legally in the country, and just 28 operators hold that status today.