South Korean customers could lose access to more than a dozen crypto exchanges, as local authorities clamp down on foreign businesses who they say are operating in the country without proper registration.
Some 16 unregistered providers have been identified as offering services to Koreans without registering with the right authorities, a press release issued by the country’s Financial Services Commission (FSC) said on Thursday.
An intelligence unit of the FSC has reported the platforms to the country’s investigative authority, and asked that domestic access to their websites be blocked.
The exchanges in question were named as KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, CoinW, CoinEX, AAX, ZoomEX, Poloniex, BTCEX, BTCC, DigiFinex, and Pionex.
According to the FSC, they were found to be targeting Korean customers with Korean-language websites, and by holding promotions targeting local consumers.
The authority warned that unregistered exchanges lacked protections such as...
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