Financial regulators have blocked domestic access to the websites of 27 unregistered virtual asset service providers that had been operating illegally in South Korea.
The Korea Communications Standards Commission decided to block domestic access to the websites of the 27 unregistered providers after two rounds of deliberation on the 6th and 7th, according to the Korea Financial Intelligence Unit (FIU) under the Financial Services Commission on the 13th. The targets include overseas exchanges such as KuCoin, MEXC and Phemex.
BTCC, which continued to operate through workarounds even after its app was blocked, was also on the list. Seoul Economic Daily reported last month that BTCC had resumed business two months after downloads of its existing exchange app were blocked in South Korea, by adding trading functions to its cryptocurrency wallet app, BTCC Wallet. Following the report, BTCC Wallet was also removed from the Apple and Google app stores. The FIU said it plans to continue monitoring alternative sites and to request additional deliberations, given that blocked operators could attempt to circumvent the measures by changing their web addresses. ▷See page 9 of the Oct. 1 edition