- Apple has blocked KuCoin and MEXC as well as other crypto-exchanges on the demand of South Korea.
- Google was banned by the government last month for 17 crypto-sites.
South Korea blocked 14 crypto-exchanges including KuCoin, MEXC and others for not reporting their activities to the authorities.
Financial Intelligence Unit, South Korean regulator (FIU), released a statement the following day, 14th April. stated,
“Apple Inc. has blocked domestic access to 14 apps from unreported foreign virtual asset operators registered in the Apple App Store since April 11 at the request of the FIU.”
Crypto exchanges are being targeted with more strictness
The regulator has stated that unreported domestic activity could result in a fine of $35K and a ban on internet access and apps.
In the last month, South Korea asked Google to block 17 applications. The agency added that it will censor more sites to prevent ‘money laundering risks’ and ‘user damage.’
“FIU will continue to block domestic access through mobile applications (apps) and Internet sites of overseas unreported virtual asset operators to prevent money laundering risks and user damage, in consultation with relevant organizations.”
Blofin Coins Bitglobal BitMart are also blocked.
Source: FIU
South Korea is a country that has a lot to offer. hinted Regulatory clarity and legislation by Q3 2025 could drive institutional crypto investment in the country. In fact, top regulators are even urged The adoption of Bitcoin ETFs if Japan gives the green light to the products.
The country can compete against top hubs like Singapore and Hong Kong for crypto investment if it is approved and implemented.
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Source: ambcrypto.com
