{"id":18504,"date":"2025-03-21T16:46:42","date_gmt":"2025-03-21T16:46:42","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=18504"},"modified":"2025-03-21T16:46:42","modified_gmt":"2025-03-21T16:46:42","slug":"south-korea-plans-sanctions-against-bitmex-kucoin-others-report","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=18504","title":{"rendered":"South Korea Plans Sanctions Against BitMEX, KuCoin, Others: Report"},"content":{"rendered":"<div>\n<p>South Korean financial authorities are planning sanctions against crypto exchanges who are operating illegally in the country, <a href=\"https:\/\/www.hankyung.com\/article\/202503219761g\" target=\"_blank\">business newspaper Hankyung reported on Friday<\/a>.<\/p>\n<p>The Financial Intelligence Unit (FIU) classified a number of exchanges who are not registered as Virtual Asset Service Providers (VASPs) as targets for sanctions, according to the report.<\/p>\n<p>The exchanges targeted &#8211; BitMEX, KuCoin, CoinW, Bitunix and KCEX &#8211; have been found to be operating Korean-language websites without reporting to FIU. For that reason, they are classed as illegal businesses, as per the country&#8217;s regulations. <\/p>\n<p>&#8220;We are currently reviewing blocking access to unreported overseas exchanges that are providing services to domestic investors through consultation with the Korea Communications Standards Commission,&#8221; an FIU official said, accordinh to the report. <\/p>\n<p>&#8220;We are organizing damage cases and related data to strengthen communication between authorities, and we expect to see tangible measures taken within this year.&#8221;<\/p>\n<p>BitMEX, KuCoin and CoinW did not respond to CoinDesk&#8217;s request for comment.<\/p>\n<p>Last month, South Korean crypto exchange Upbit was <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/02\/25\/upbit-partner-firm-faces-3-month-partial-suspension-from-south-korea\" target=\"_blank\">prohibited from allowing new customers to transfer assets to its platform<\/a> for three months due to non-compliance with its obligations as a regulated provider.<\/p>\n<p>Read More: <a href=\"https:\/\/www.coindesk.com\/policy\/2025\/03\/20\/south-korean-prosecutors-raid-crypto-exchange-bithumb-over-embezzlement-allegations-report\" target=\"_blank\">Crypto Exchange Bithumb Raided by South Korean Prosecutors Over Embezzlement Allegations: Report<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>South Korean financial authorities are planning sanctions against crypto exchanges who are operating illegally in the country, business newspaper Hankyung reported on Friday. The Financial Intelligence Unit (FIU) classified a number of exchanges who are not registered as Virtual Asset Service Providers (VASPs) as targets for sanctions, according to the report. The exchanges targeted &#8211; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-18504","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18504","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=18504"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/18504\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18504"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18504"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18504"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}