South Korea plans to impose sanctions on unregistered exchanges such as BitMEX and KuCoin

Odaily Planet Daily News: South Korean financial authorities are planning to impose sanctions on cryptocurrency exchanges such as BitMEX, KuCoin, CoinW, BitUnix, and KCEX that are not registered with the Financial Intelligence Unit (FIU) but provide Korean language website services. FIU stated that the above-mentioned exchanges were not registered as virtual asset service providers (VASP) according to regulations, and are therefore considered to be operating illegally. Officials said that they are currently negotiating with the Korea Communications Standards Board to review a plan to block access to these unregistered overseas exchanges, and specific measures are expected to be introduced within the year. （CoinDesk）