KuCoin, MEXC and 12 Crypto Exchanges’ Apple Apps Blocked in South Korea
South Korean regulators requested 14 apps from Apple — belonging to unreported foreign crypto operators — be blocked domestically, a statement said on Monday.
Crypto exchanges KuCoin and MEXC are among the firms being targeted by the regulator, and domestic access to their apps have been blocked since April 11. CoinDesk reached out to KuCoin and MEXC for a comment.
Foreign virtual asset business operators that want to operate in South Korea need to report to the Financial Intelligence Unit (FIU) in accordance with the Act on Reporting and Use of Specific Financial Transaction Information, the statement said.
“Unreported business activities are subject to criminal punishment, and the FIU has been targeting overseas unreported virtual…
