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South Korea’s financial regulator launches enforcement action against unregistered overseas crypto exchanges

Financial Intelligence Unit (FIU) under the Financial Services Commission (FSC) of South Korea has taken enforcement actions against overseas cryptocurrency exchanges that provide services to South Korean users without registration, based on the Specific Financial Transaction Information Reporting and Use Act. FIU is considering website access blocking as a primary enforcement measure, targeting exchanges including BitMEX, KuCoin, CoinW, Bitunix, and KCEX.

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