South Korea Eyes Sanctions on Foreign Crypto Exchanges

South Korean authorities are cracking down on cryptocurrency exchanges operating illegally, with tough sanctions expected for non-compliant platforms. Investigates Unauthorized Crypto Exchanges The Financial Intelligence Unit (FIU) of the Financial Services Commission is reportedly considering measures against a number of foreign-based crypto exchanges suspected of servicing Korean users without the required Virtual Asset Service Provider (VASP) license. The local media reports, that the FIU is scrutinizing exchanges such as KuCoin, BitMEX, CoinW, Bitunix, and KCEX.  These platforms allegedly provided customer support and marketing services tailored for South Korean investors while bypassing the country's compliance framework. Under South Korea’s Specified

Continue reading on DailyCoin.