From Coinpedia · By Nidhi Kolhapur
South Korea will block access to 27 crypto websites operated by unregistered virtual asset businesses. The Korea Communications Standards Commission approved the restrictions on October 6 and 7 following a request from the Financial Intelligence Unit (FIU).
The move extends existing restrictions on mobile apps from Google and Apple to websites. Authorities aim to block illegal crypto services before users suffer financial losses.
The FIU said unregistered crypto business activities are illegal under the country’s financial reporting law, even if authorities have not yet confirmed user losses.
List of 27 Crypto Websites South Korea Plans to Block
The FIU requested access restrictions on websites operated by unregistered crypto businesses. The KCSC decided to block the following 27 operators that are currently active, including through service termination where applicable.
KuCoin
MEXC
Phemex
XT.com
Bitrue
CoinW
ZoomEX
Poloniex
BTCC
DigiFinex
Pionex
Blofin
Apex Pro
WEEX
BitMart
KCEX
BingX
P2B
Nonkyc.io
SUPEREX
CoinSolution (코인솔루션)
Sinbad Solution (신밧드솔루션)
Xgram
TapBit (탭비트)
CoinMy (코인마이)
BigOne (빅원)
UBit (유비트)
South Korea Requires Crypto Platforms to Register
Crypto businesses must meet requirements, including Information Security Management System (ISMS) certification, and register with the FIU to operate legally in South Korea.
The rules also apply to foreign platforms that target South Korean residents. Authorities consider whether a platform offers a Korean-language website, runs marketing campaigns for local customers, or supports payments in Korean won.
Operating an unregistered crypto business can lead to up to five years in prison or a fine of up to 50 million won.
The FIU warned that unregistered platforms may expose users to hacking, personal information leaks, money laundering, and investment fraud. Users could also lose money if a platform accepts payment without providing the promised crypto assets.
Illegal Crypto Platforms Charge Higher Fees
A joint investigation by the Digital Asset exchange Alliance (DAXA) in June 2026 found that transaction fees at detected illegal platforms ranged from 1.5% to 10%.
The fees were as much as 62 times the average fee of 0.16% charged by South Korea’s five largest domestic won-based crypto exchanges.