South Korean authorities have approved measures to restrict domestic access to 27 websites linked to unregistered cryptocurrency exchanges and other virtual asset service providers, including KuCoin, MEXC, Phemex and Bitrue. The action expands an earlier crackdown on unregistered platforms from mobile applications to websites.
Websites targeted under anti-money-laundering rules
The Financial Intelligence Unit (FIU) said on Tuesday that the decision followed reviews conducted by the Korea Media and Communications Standards Commission on Oct. 6 and 7. Other platforms named in the list include CoinW, BTCC, BitMart, BingX and DigiFinex.
The restrictions cover operators that have not registered under South Korea’s Act on Reporting and Using Specified Financial Transaction Information. The legislation is the country’s framework for anti-money-laundering reporting and oversight of virtual asset service providers.
According to Cointelegraph, the FIU said the latest measures would allow authorities to block websites as well as applications. Depending on the operator, the action may involve ending services hosted inside South Korea or preventing users in the country from reaching websites operated overseas.
How authorities identify platforms targeting Korean users
South Korean authorities assess whether an overseas crypto platform is targeting domestic customers using several indicators. These include offering services in Korean, marketing directly to South Korean users and supporting transactions denominated in Korean won.
The approach means that an exchange does not have to be based in South Korea to come under scrutiny. Overseas platforms can also face access restrictions if their services are considered directed at users in the country while the operator remains unregistered under the relevant law.
The website action follows restrictions on mobile applications. In April 2025, South Korea blocked downloads and updates for 14 unregistered exchange apps on Apple’s App Store, after restrictions had been imposed on 17 apps through Google Play.
Withdrawal concerns for existing customers
The FIU acknowledged that blocking websites could make it harder for existing customers to withdraw their digital assets. It said it plans to offer withdrawal guidance and assistance through the Digital Asset eXchange Alliance, known as DAXA, working with the affected operators.
The announcement therefore affects both access to platforms and the practical steps users may need to take if they hold assets with one of the listed services. The source material does not specify a deadline for withdrawals or provide details of individual customer balances.
Moneyiar market picture
Moneyiar market data at 9:43–9:44 a.m. on Oct. 13, 2026, showed mixed performance among the tracked digital assets:
- EDGE was priced at $0.3366653885, down 6.21% over 24 hours and 25.67% over seven days.
- RED stood at $0.1564704736, down 5.34% in 24 hours and 5.2% over seven days.
- WIN traded at $0.0000564842, down 2.76% over 24 hours but up 9.43% over seven days.
- ASSET was priced at $0.1927052765, up 3.26% over 24 hours and down 2.28% over seven days, based on Moneyiar data recorded at 6:54 p.m. on Oct. 8, 2026.
