South Korea Orders Website Blocks on 27 Unregistered Crypto Exchanges, Including KuCoin and MEXC

Published October 14, 2026, 17:37 UTC. Based on the South Korea Financial Intelligence Unit announcement dated October 13, 2026, and reporting from CoinDesk, CryptoNews and FinanceFeeds dated October 13, 2026.

South Korea's Financial Intelligence Unit announced on Tuesday, October 13, 2026, that the country's communications regulator has ordered domestic access restrictions on 27 websites run by unregistered cryptocurrency exchanges, extending the enforcement crackdown from mobile apps to the web. The decision followed two regulatory reviews held on October 6 and 7, according to the FIU.

The Korea Communications Standards Commission approved the restrictions at the FIU's request, the FIU said. Websites hosted overseas will be blocked from domestic access, while sites with domestic servers or operators will face service termination, the regulator said.

The 27 sites on the list

The named platforms include KuCoin, MEXC, Phemex, XT.com, Bitrue, CoinW, Poloniex, BTCC, BingX, BitMart and DigiFinex, according to reports citing the FIU's announcement. The rules apply to platforms operating without registration under the Act on Reporting and Using Specified Financial Transaction Information, the country's anti-money laundering law, the FIU said.

The FIU identifies unregistered operators through indicators including Korean-language websites, marketing aimed at Korean users and support for payments in won, CryptoNews reported.

Websites after the app stores

The order extends enforcement that began with mobile apps. In March 2025, the FIU asked Google and Apple to restrict access to unregistered exchange apps. Google Play restricted 17 platforms, including KuCoin and MEXC, that month, and Apple followed with similar controls in April, CryptoNews reported. The latest order targets the websites of unregistered operators, closing the route many users took after the app blocks.

44 operators referred for investigation

Separately, authorities have referred 44 unregistered cryptocurrency operators to investigative agencies as part of broader enforcement efforts, the FIU said, according to FinanceFeeds. Operating an unregistered virtual asset business can draw up to five years in prison or a 50 million won fine, CoinStats reported.

The communications regulator said it can approve website blocks as soon as unregistered activity is detected, without waiting for a court ruling or evidence that customers lost money, CoinDesk reported, giving the government a faster enforcement channel than criminal prosecution.

The withdrawal problem the FIU flagged

The FIU acknowledged the blocks may make it difficult for existing users to withdraw their funds, and said it will work with the Digital Asset eXchange Alliance, known as DAXA, and the operators to provide withdrawal guidance and support, CoinDesk reported. Regulators warned customers of unauthorized platforms that they may struggle to recover funds and urged investors to verify a platform's registration before depositing, CoinDesk reported.

What KuCoin said

A KuCoin spokesperson said the exchange respects applicable laws and regulations across jurisdictions and continuously strengthens its compliance framework in response to evolving regulatory requirements, CoinDesk reported. The spokesperson added that user assets remain safe and secure and that the company will communicate further updates through its official channels. BitMart, Phemex and MEXC did not immediately respond to CoinDesk's request for comment.

This article is news reporting and is not investment advice.

Sources

• South Korea Financial Intelligence Unit announcement, October 13, 2026, primary source for the 27 website access restrictions, the Korea Communications Standards Commission approval, the October 6 and 7 reviews, the overseas-block and domestic-termination measures, the registration requirement under the Act on Reporting and Using Specified Financial Transaction Information, the acknowledgement of withdrawal difficulties, and the planned withdrawal guidance with the Digital Asset eXchange Alliance
• CoinDesk, October 13, 2026, secondary source for the KuCoin spokesperson's statement, the DAXA withdrawal guidance detail, the warning to investors about recovering funds, the lack of response from BitMart, Phemex and MEXC, and the approval process that does not require a court ruling
• CryptoNews, October 13, 2026, secondary source for the indicators used to identify unregistered operators and the March 2025 Google Play and April Apple app restrictions
• FinanceFeeds, October 13, 2026, secondary source for the 44 operators referred to investigative agencies
• CoinStats, October 13, 2026, secondary source for the five-year prison and 50 million won maximum penalty