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South Korea Extends Crypto Crackdown to Websites and Exchanges
South Korea has expanded its crackdown on cryptocurrency by blocking 27 exchange websites that failed to register with the country's financial intelligence regulator. The Financial Intelligence Unit (FIU) announced this measure on October 13, following a review of the sites by the Korea Media and Communications Standards Commission on October 6 and 7. The blocked exchanges include MEXC, KuCoin, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BitMart, BingX, and DigiFinex. These sites have also been removed from Google Play and Apple's App Store. The FIU has referred 44 unregistered crypto platforms to investigators for possible legal action, and only around 28 providers are currently registered with the FIU. The regulator warns of potential hacking, data leaks, and use of such sites to hide criminal funds, including drug proceeds, and advises caution for users withdrawing funds from blocked exchanges.