South Korea’s Financial Intelligence Unit (FIU) under the Financial Services Commission announced on October 13, 2026, that domestic access to the websites of 27 unregistered overseas cryptocurrency exchanges and virtual asset service providers will be blocked or terminated.
The Korea Media and Communications Standards Commission approved the measures following reviews on October 6 and 7 at the FIU’s request. Overseas-hosted sites will face access blocks for users in South Korea, while any sites with domestic servers or operators will have their services terminated.
The list includes KuCoin, MEXC, BitMart, BingX, Phemex, XT.com, Bitrue, Poloniex, BTCC and others. The FIU has also referred 44 unregistered operators to investigators.
This action extends earlier restrictions that began with limits on mobile apps in app stores in 2025. The regulator said it will no longer wait for evidence of user harm or the conclusion of investigations before seeking blocks once an operator is confirmed as unregistered.
Under South Korean law, virtual asset service providers must register with the FIU and meet requirements such as Information Security Management System certification. Operating without registration is illegal and can result in up to five years in prison or a fine of up to 50 million won. The rules apply to foreign platforms that target Korean users through Korean-language services, local marketing or support for Korean won payments.
Only 28 virtual asset service providers are currently registered. Registered exchanges are barred from sending crypto to unregistered platforms. The FIU warned that users of unauthorized platforms may face difficulties recovering funds and said it will monitor attempts to circumvent the blocks via new domains.
