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South Korea has blocked 14 Crypto exchanges, including Kucoin and Mexc, for having operated in the country without reporting the relevant authorities.
In a declaration of April 14, the South Korean regulator, the financial intelligence unit (FIU), declared,,
“Apple Inc. has blocked national access to 14 applications for unconcluded foreign virtual asset operators recorded in the Apple App Store since April 11 at the FIU request.”
According to the regulator, unconcluded domestic activities could attract a fine of $ 35,000 and a ban on internet access and applications.
Last month, South Korea asked Google to block 17 applications. The agency has added that it will censor more sites to prevent “risk of money laundering” and “user damage”.
“The CRF will continue to block domestic access via mobile applications (APP) and websites of non -declared virtual asset operators abroad to prevent the risk of money laundering and user damage, in consultation with relevant organizations.”
Other blocked crypto exchange sites and applications include Blufin, coins, Bitglobal and Bitmart.
Source: FIU
That said, South Korea has subject to potential regulatory clarity and legislation in the third quarter of 2025 to stimulate investments in institutional cryptography in the country. In fact, some best regulators exhorted The adoption of Bitcoin FNB is expected to make Japan Greenlight products.
If it is confirmed and adopted, the country could position itself for global cryptography investments and compete with the best hubs in the region like Singapore and Hong Kong.
post url: https://altcoin.observer/south-korea-blocks-14-crypto-exchanges-what-is-behind-the-repression/