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𝐒𝐨𝐮𝐭𝐡 𝐊𝐨𝐫𝐞𝐚 𝐢𝐬 𝐭𝐢𝐠𝐡𝐭𝐞𝐧𝐢𝐧𝐠 𝐢𝐭𝐬 𝐠𝐫𝐢𝐩 𝐨𝐧 𝐜𝐫𝐲𝐩𝐭𝐨 𝐜𝐨𝐦𝐩𝐥𝐢𝐚𝐧𝐜𝐞 🇰🇷
The Korea Financial Intelligence Unit (KoFIU) has taken action against foreign exchanges like #BitMEX , #KUCOIN , #CoinW , Bitunix, and KCEX for operating without registration.
Penalties may include website blocks as regulators enforce stricter oversight—following recent action against domestic platforms like Upbit.
A clear signal that unregistered crypto activities are under increased scrutiny. #RegulatoryIssues
The Korea Financial Intelligence Unit (KoFIU) has taken action against foreign exchanges like #BitMEX , #KUCOIN , #CoinW , Bitunix, and KCEX for operating without registration.
Penalties may include website blocks as regulators enforce stricter oversight—following recent action against domestic platforms like Upbit.
A clear signal that unregistered crypto activities are under increased scrutiny. #RegulatoryIssues
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South Korea considers imposing sanctions on non-compliant cryptocurrency trading platforms
Cryptocurrency trading platforms, including "BitMEX," "KuCoin," "CoinW," "Bitunix," and "KCEX," are under scrutiny by the Financial Intelligence Unit (FIU) in South Korea for non-compliance with local regulatory requirements.
The authorities accuse these platforms of operating illegally for not being registered as Virtual Asset Service Providers (VASPs) according to the Specific Financial Information Act.
The FIU is conducting investigations into these platforms, considering strict measures such as banning access to their sites in collaboration with the Korean Communications Standards Commission.
South Korea has previously imposed similar restrictions, having shut down more than 60 unregistered platforms in 2021 and blocking access for 16 foreign trading platforms to local investors in 2022.
As the crackdown continues, a decline in the number of registered crypto companies in the country is expected, which has already decreased by 26% since 2024.
#KUCOIN #fiu #VASP #BitMEX
#coinw
Cryptocurrency trading platforms, including "BitMEX," "KuCoin," "CoinW," "Bitunix," and "KCEX," are under scrutiny by the Financial Intelligence Unit (FIU) in South Korea for non-compliance with local regulatory requirements.
The authorities accuse these platforms of operating illegally for not being registered as Virtual Asset Service Providers (VASPs) according to the Specific Financial Information Act.
The FIU is conducting investigations into these platforms, considering strict measures such as banning access to their sites in collaboration with the Korean Communications Standards Commission.
South Korea has previously imposed similar restrictions, having shut down more than 60 unregistered platforms in 2021 and blocking access for 16 foreign trading platforms to local investors in 2022.
As the crackdown continues, a decline in the number of registered crypto companies in the country is expected, which has already decreased by 26% since 2024.
#KUCOIN #fiu #VASP #BitMEX
#coinw
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