beFITTER narxiFIU

South Korean regulator launches on-site inspection of Coinone South Korea’s Financial Intelligence Unit (FIU), under the Financial Services Commission, has launched an on-site inspection of local crypto exchange @CoinoneOfficial, according to Seoul Economic Daily. The inspection

South Korea blocks 14 cryptocurrency exchanges from Apple App Store The Financial Services Commission (FSC) of South Korea announced on April 11 that the apps of 14 crypto exchanges including KuCoin and MEXC were blocked in the Apple App Store due to unregistered operations. Previously, the Google Store had blocked 17 unregistered platforms on March 26. The FSC stated that these platforms are suspected of serving Korean users as overseas unregistered virtual asset operators, posing risks of money laundering and user losses. The Financial Information Analysis Unit (FIU) will continue to promote the banning of websites and applications of such platforms. According to FSC regulations, unreported virtual asset service activities are criminal offenses, punishable by up to five years in prison and a fine of 50 million won (about US$35,000). (Cointelegraph)

Korean financial regulator blocks 14 unregistered crypto apps on Apple’s App Store On April 14, the Financial Intelligence Unit (FIU) under South Korea’s Financial Services Commission (FSC) blocked access to 14 mobile apps available on Apple’s App Store that were operated by

Google Play Store in South Korea has blocked 17 foreign Virtual Asset Service Providers (VASPs) apps, including those of KuCoin and MEXC, from being accessible to users within the country. This action comes as a consequence of these exchanges failing to register with the Financial Intelligence Unit (FIU), which is a branch of South Korea’s Financial Services Commission (FSC), as mandated by local law. Related: South Korea to Release Institutional Crypto Investment Guidelines in Q3 2025 Google Play Store’s action signals South Korea’s increasing regulatory efforts within the cryptocurrency industry. According to a statement issued by the FSC, this action was taken at the specific request of the FIU, which is responsible for overseeing compliance with anti-money laundering (AML) and know-your-customer (KYC) regulations for financial services operating within the country. Foreign VASPs are legally required to register with the FIU in order to operate within South Korea. This registration process ensures that these platforms adhere to the necessary regulations, which are designed to protect the integrity and reliability of the country’s financial system. For foreign exchanges such as KuCoin and MEXC, operating in South Korea without obtaining this mandatory registration has now led to tangible consequences. The inability for users to download or update these apps through the Google Play Store will directly affect those who previously relied on these platforms for trading digital assets. The ban on unregistered foreign VASP apps is expected to limit access for cryptocurrency traders based in South Korea. While users who had already downloaded the apps before the ban may still retain some functionality, they will no longer be able to receive updates to the applications. New users, however, are completely blocked from installing these apps from the Google Play Store. Related: Crypto Crackdown in South Korea: Upbit Suspended, Bithumb Investigated, Overseas Exchanges Face Action However, some concerns have been raised about whether such strict measures could drive investors and companies away from South Korea. Disclaimer: The information presented in this article is for informational and educational purposes only. The article does not constitute financial advice or advice of any kind. Coin Edition is not responsible for any losses incurred as a result of the utilization of content, products, or services mentioned. Readers are advised to exercise caution before taking any action related to the company.

South Korea court halts FIU sanctions on Dunamu, Upbit operator A South Korean court has temporarily halted the enforcement of a partial business suspension issued by financial authorities against Dunamu, the operator of the crypto exchange Upbit, according to Yonhap News