South Korea's Financial Intelligence Unit (FIU) said authorities ordered a domestic access ban on 27 websites of unregistered overseas crypto exchanges, including KuCoin, MEXC, Phemex, BingX and BitMart, extending enforcement from app stores to websites. Regulators treat a platform as operating locally based on factors such as Korean-language sites, marketing to Korean users and support for won payments, and the communications review body approved the measures after reviews on October 6 and 7. The FIU had earlier asked Google and Apple to restrict unregistered exchange apps, with Google Play restricting 17 platforms in March 2025. Operating without registration can bring up to five years in prison or a fine of up to 50 million won. The FIU urged users to withdraw assets immediately despite the risk that blocks could make withdrawals harder, and a June probe by DAXA and registered operators found flagged exchanges charged average fees of 1.5% to 10%, versus 0.16% at the five largest won-based exchanges.
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Related tickers and likely impact
BTC/USDT
• NeutralBitcoin
Relevance: low
| Market | Crypto |
|---|---|
| Exchange | Binance |
| Sector | Layer 1 |
| Market cap | $1.6T |
| Close on 10/12/2026 | 81,850.00 |
| Change that session | -2.30% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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