South Korea Blocks 27 Crypto Exchanges Including KuCoin and BitMart

South Korea blocks crypto exchanges — South Korean regulators have blocked access to the websites of 27 unregistered cryptocurrency exchanges, including major platforms KuCoin, BitMart, and MEXC.

The move by the Financial Intelligence Unit (FIU) extends a crackdown that began last year with restrictions on the exchanges’ mobile applications. The action targets foreign platforms that have not registered with authorities and fail to meet local security and anti-money laundering requirements.

Regulators warned that customers using unauthorized platforms may face significant difficulties recovering their funds in the event of problems. They urged investors to verify an exchange’s registration status and withdraw their assets from non-compliant services.

This escalation highlights South Korea’s continued strict enforcement of its crypto regulatory framework, which mandates that all exchanges serving local customers must obtain official approval. The country has been actively working to protect investors and prevent illicit financial activities within the digital asset sector.