South Korea blocks 27 crypto exchanges, including Bitmart and Kucoin
South Korean financial regulators have suspended operations of 27 cryptocurrency exchanges, among them Bitmart and Kucoin, as part of a broader effort to tighten oversight of the crypto market.
South Korean financial authorities announced the blocking of 27 cryptocurrency exchanges, with Bitmart and Kucoin among those affected.
The action was taken because the exchanges failed to meet local regulatory requirements, notably anti‑money‑laundering (AML) and know‑your‑customer (KYC) standards.
Regulators say the move aims to protect investors and maintain the stability of the financial system.
Users of the blocked exchanges are advised to withdraw their funds promptly and cease using the platforms.
This step reflects South Korea’s intensifying scrutiny of the crypto sector and supports the development of forthcoming rules and standards.
