South Korea has blocked access to 27 unregistered cryptocurrency exchange websites, including KuCoin, MEXC, and BingX, extending enforcement beyond earlier mobile app restrictions. The Financial Intelligence Unit (FIU) has also referred 44 other unregistered operators to law enforcement agencies. Users holding assets on these platforms must transfer them to one of the country’s 28 licensed exchanges, where Upbit dominates with 64% of weekly trading volume in won, followed by Bithumb at nearly 27%. Authorities are preparing a second phase of enforcement targeting replacement domain names attempting to circumvent the restrictions.
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