Korean financial watchdog to block tens of unregistered exchange websites
Korea's Financial Intelligence Unit is cracking down on foreign-based cryptocurrency exchanges that are yet to register with relevant authorities in the country. Unregistered cryptocurrency exchanges operating in South Korea could see their services grind to a halt as the Korea Financial Intelligence Unit (FIU) takes action against 16 foreign-based firms.The FIU has notified its investigative authority that 16 virtual asset service providers have been carrying out business without the necessary registrations. Major exchanges, including the likes of KuCoin, Poloniex and Phemex, were listed....
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The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country. “For illegal business activities of unregistered entities, maximum of 5 years of imprisonment or up to KRW 50 million of fines can be imposed,” the regulator said.
16 Foreign Crypto Exchanges Flagged by South Korean Regulator
South Korea’s top financial regulator, the Financial Services Commission (FSC), announced Thursday that the country’s financial intelligence unit (KoFIU) has notified investigative....