South Korea weighs blocking illegal offshore crypto exchanges like scam sites

South Korea’s Broadcast, Media and Communications Review Committee has proposed that the Financial Intelligence Unit prioritize blocking illegal overseas virtual asset exchanges where specific user harm has been confirmed, treating them similarly to fraudulent websites, The Asia Business Daily reported. According to the report, the committee and the FIU held a working-level meeting on July 16 to discuss review standards for blocking unregistered overseas virtual asset business information. The committee proposed first designating for review sites where damage such as criminal money laundering, illegal remittances, tax evasion, and personal data leaks has been confirmed.