Korean financial regulator initiates enforcement on unregistered overseas crypto exchanges

The Financial Intelligence Unit (FIU) under South Korea’s Financial Services Commission (FSC) has launched enforcement actions against overseas cryptocurrency exchanges serving Korean users without registration under the Act on Reporting and Using Specified Financial Transaction Information, according to The Korea Economic Daily. The FIU is reportedly considering website access blocks as the main enforcement measure. Targeted exchanges include BitMEX, KuCoin, CoinW, Bitunix and KCEX.