- Apple blocked KuCoin, MEXC, and different crypto exchanges on the request of South Korea.
- Final month, the nation banned 17 crypto websites via 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), acknowledged,
“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
In keeping with the regulator, unreported home actions might 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 forestall ‘cash laundering dangers’ and ‘consumer injury.’
“FIU will proceed to dam home entry via cellular purposes (apps) and Web websites of abroad unreported digital asset operators to forestall cash laundering dangers and consumer injury, 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 actual fact, some high regulators even urged the adoption of Bitcoin ETFs ought to Japan greenlight the merchandise.
If confirmed and adopted, the nation might place itself for international crypto investments and compete with high hubs within the area like Singapore and Hong Kong.
