South Korea Blocks 27 Unregistered Crypto Exchanges, Including BitMart and KuCoin
South Korea is moving to block website access to 27 crypto exchanges it considers unregistered, including BitMart and KuCoin. The step extends earlier restrictions on mobile apps and is intended to limit investor exposure to platforms operating outside the country’s registration rules.
Key takeaways
- South Korea is blocking access to 27 crypto exchanges it considers unregistered.
- BitMart and KuCoin are among the exchanges named in the report.
- The restrictions extend from mobile apps to exchange websites.
- The stated aim is to limit investor exposure before losses occur.
South Korea is blocking access to 27 unregistered crypto exchanges, including BitMart and KuCoin. Regulators are extending restrictions that previously focused on mobile apps to the exchanges’ websites, aiming to act before local investors suffer losses.
The move targets platforms that have not registered to operate in South Korea. The report does not specify how quickly the websites will be blocked or whether the exchanges can challenge the action.
Why is South Korea blocking these exchanges?
South Korean regulators have been tightening oversight of crypto firms operating without local registration. In August, lawmakers proposed giving the Financial Intelligence Unit more power to investigate and report unregistered firms to law enforcement; the latest website blocks show restrictions reaching beyond app stores.
For users, the practical concern is access and recourse: a platform operating without the required local registration may not be subject to the same oversight as registered services. A website block does not, by itself, establish that an exchange is insolvent or that customer funds have been lost.
What should users of BitMart or KuCoin check?
The report names BitMart and KuCoin among the 27 targeted exchanges, but does not say that every user is affected or explain how the blocks will be enforced. People in South Korea who use the named platforms should check official regulator notices and the exchanges’ own communications for local access or withdrawal instructions before acting.
The key distinction is between restricting access and shutting down an exchange: this announcement concerns South Korea’s efforts to block unregistered services, not a reported global closure of BitMart or KuCoin.
Notably, BitMart announced its own global shutdown in July 2026, giving users a month to settle trades and six months to withdraw funds. That separate closure is unrelated to South Korea's latest website blocks, but users of the platform should be aware of both developments.
Frequently asked questions
Why is South Korea blocking crypto exchange websites?
Regulators are extending restrictions to websites of 27 exchanges they consider unregistered, aiming to limit investor exposure before losses occur.
Are BitMart and KuCoin shutting down?
The report says South Korea is blocking access to the exchanges locally. It does not report that either platform is closing globally.
Does the block mean customers have lost their crypto?
No customer losses are reported in the announcement. A website restriction is not, by itself, evidence that an exchange is insolvent or funds are missing.