South Korea's authorities moved to block access to 27 cryptocurrency websites, including major exchanges KuCoin and MEXC. The restrictions target unregistered exchanges operating without proper regulatory approval in the country.
Officials acknowledged that the blockade could create withdrawal difficulties for customers holding assets on these platforms. The action reflects South Korea's ongoing enforcement of cryptocurrency regulations requiring exchanges to register with financial authorities.
The country has implemented increasingly strict compliance requirements for crypto trading platforms. Unregistered exchanges face blocking measures as regulators seek to protect consumers and maintain oversight of the digital asset market.
Customers on affected platforms may face obstacles accessing or moving their holdings during the enforcement action. The broader regulatory landscape in South Korea continues to tighten around crypto exchange operations, with authorities prioritizing registration and compliance standards.