South Korea blocks 14 crypto exchanges—What’s behind the crackdown?
- Apple blocked KuCoin, MEXC, and different crypto exchanges on the request of South Korea.
- Final month, the nation banned 17 crypto websites by way of Google.
South Korea has blocked 14 crypto exchanges, together with KuCoin and MEXC, for working within the nation with out related reporting to authorities.
In an announcement on 14th April, the South Korean regulator, the Monetary Intelligence Unit (FIU), stated,
“Apple Inc. has blocked home entry to 14 apps from unreported overseas digital asset operators registered within the Apple App Retailer since April 11 on the request of the FIU.”
Extra crackdown on crypto exchanges
Based on the regulator, unreported home actions may entice a $35K effective and an web and app entry ban.
Final month, South Korea requested Google to dam 17 apps. The company added that it’ll censor extra websites to stop ‘cash laundering dangers’ and ‘person harm.’
“FIU will proceed to dam home entry by way of cell purposes (apps) and Web websites of abroad unreported digital asset operators to stop cash laundering dangers and person harm, in session with related organizations.”
Different blocked crypto trade websites and apps embrace Blofin, Cash, Bitglobal, and BitMart.
Supply: FIU
That stated, South Korea has hinted at potential regulatory readability and laws in Q3 2025 to drive institutional crypto investments within the nation. In truth, some prime regulators even urged the adoption of Bitcoin ETFs ought to Japan greenlight the merchandise.
If confirmed and adopted, the nation may place itself for international crypto investments and compete with prime hubs within the area like Singapore and Hong Kong.
