Foreign crypto exchanges need permit to operate in South Korea

Foreign cryptocurrency exchanges that lack the proper registration to operate South Korea will be blocked, according to authorities. This comes after the intelligence unit of the Financial Services Commission has reported 16 foreign crypto businesses to authorities and asked other agencies to block access to the firms’ local websites. The statement listed the companies as KuCoin, MEXC, Phemex, XT.com, Bitrue, ZB.com, Bitglobal, CoinW, CoinEX, AAX, ZoomEX, Poloniex, BTCEX, BTCC, DigiFinex, and Pionex. South Korea last year mandated that cryptocurrency platforms must receive Information Security Management System certification.