KuCoin, MEXC and 12 Crypto Exchanges' Apple Apps Blocked in South Korea

South Korean regulators volition proceed to artifact unreported virtual plus operators from accessing home sites, a connection said.

Apr 14, 2025, 5:56 p.m.

South Korean regulators requested 14 apps from Apple — belonging to unreported overseas crypto operators — beryllium blocked domestically, a connection said connected Monday.

Crypto exchanges KuCoin and MEXC are among the firms being targeted by the regulator, and home entree to their apps person been blocked since April 11. CoinDesk reached retired to KuCoin and MEXC for a comment.

Foreign virtual plus concern operators that privation to run successful South Korea request to study to the Financial Intelligence Unit (FIU) successful accordance with the Act connected Reporting and Use of Specific Financial Transaction Information, the connection said.

“Unreported concern activities are taxable to transgression punishment, and the FIU has been targeting overseas unreported virtual plus concern operators conducting home concern activities without reporting (16 companies successful 2022, 6 companies successful 2023), portion besides blocking home entree done Internet sites and mobile telephone apps,” the regulator said.

South Korea has been moving to artifact crypto providers that are operating illegally. Last period it requested Google forestall entree to 17 apps portion reports came retired that the regulator planned to artifact immoderate exchanges sites.

“In the future, FIU volition proceed to artifact home entree done mobile applications (apps) and Internet sites of overseas unreported virtual plus operators successful bid to forestall wealth laundering risks and idiosyncratic damage, successful consultation with applicable organizations,” the Financial Intelligence Unit said.

Camomile Shumba

Camomile Shumba is simply a CoinDesk regulatory newsman based successful the UK. Previously, Shumba interned astatine Business Insider and Bloomberg. Camomile has featured successful Harpers Bazaar, Red, the BBC, Black Ballad, Journalism.co.uk, Cryptopolitan.com and South West Londoner. Shumba studied politics, doctrine and economics arsenic a combined grade astatine the University of East Anglia earlier doing a postgraduate grade successful multimedia journalism. While she did her undergraduate grade she had an award-winning vigor amusement connected making a difference. She does not presently clasp worth successful immoderate integer currencies oregon projects.