South Korea Moves to Block 27 Websites of Unregistered Crypto Services, Including KuCoin and MEXC
South Korea’s FIU announced plans to extend measures against unregistered virtual asset service providers to 27 websites.
Blocking crypto services in South Korea is expected to affect 27 websites operated by unregistered virtual asset service providers. On October 13, the Financial Intelligence Unit (FIU) said that, following reviews on October 6 and 7, the Korea Media and Communications Standards Commission decided to block access from the country or terminate services for the affected active websites.
The platforms affected include KuCoin, MEXC, Phemex, XT.com and Bitrue. The FIU identifies them as unregistered virtual asset service providers under the Act on Reporting and Using Specified Financial Transaction Information.
Blocking crypto services follows app restrictions
The measure extends earlier restrictions on these entities’ mobile apps in the Google Play and Apple App Store to their websites. A previous regulator notice said that, as of March 25, 2025, Google Play had blocked new installations and updates of apps from 17 unregistered foreign providers, including KuCoin and MEXC.
For foreign platforms, the FIU assesses whether they target South Korean customers. The stated criteria include using the Korean language, marketing aimed at domestic users and supporting payments in South Korean won.
Existing users should monitor withdrawal guidance
The FIU said it plans to provide existing users with information about withdrawals through the DAXA association and in cooperation with operators. Blocking website access could make it more difficult for domestic clients to access their accounts.
It has not been confirmed exactly when the technical blocks will take effect for individual internet service providers. It is also unknown whether, or how, the affected platforms will adjust their services or withdrawal processes for users in South Korea.
The blocking decision itself is not a judicial finding of fraud, insolvency or misuse of assets by any named platform. It represents an extension of the enforcement of registration and anti-money-laundering rules from mobile apps to websites.
What to watch after the decision
- the date and practical scope of website-blocking activation in South Korea,
- DAXA’s and individual platforms’ guidance on asset withdrawals for existing clients,
- possible blocking of alternative domains or additional unregistered providers,
- statements from KuCoin, MEXC, Phemex, XT.com and Bitrue.
Sources
- Financial Services Commission / Financial Intelligence Unit, South Korea – Primarily confirms the decision concerning 27 websites, the legal basis, criteria for targeting Korean users, the link to app blocking and the plan to support withdrawals through DAXA.
- Yonhap News Agency – Independently confirms the FIU announcement, the named platforms and the extension of the measure from app stores to websites.
- Financial Services Commission / FIU, previous Google Play measure – Documents that Google Play had already blocked new installations and updates of apps from 17 unregistered foreign providers, including KuCoin and MEXC, as of March 25, 2025.
Verified and updated: October 13, 2026, 06:22
