Korean Watchdog Wins Approval to Block KuCoin, MEXC and 25 More Unregistered Crypto Sites

KuCoin, MEXC, BitMart, Phemex and BingX are among 27 unregistered crypto platforms whose websites will be blocked for users in South Korea, the Financial Services Commission (FSC) announced on Oct. 13. It is the first measure against such operators to target their websites; earlier steps included referrals to investigators and limits on paying them by credit card. According to the FSC, South Korea’s media and communications standards regulator reviewed block requests from the Financial Intelligence Unit (FIU), which sits inside the FSC, over two sessions on Oct. 6 and 7 and approved them.