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Google Takes Action Against Non-Compliant Crypto Exchanges
In a major crackdown on unregistered crypto platforms, Google has blocked access to 17 cryptocurrency exchanges in South Korea, including major players KuCoin and MEXC. This move aligns with South Korea’s strict digital asset regulations, which require crypto exchanges to be registered with the Financial Intelligence Unit (FIU).
Why Did Google Block These Crypto Exchanges?
South Korea has some of the strictest cryptocurrency regulations in the world. Under its Financial Transactions Reporting Act, all virtual asset service providers (VASPs) must:
Register with the FIU Comply with anti-money laundering (AML) laws Partner with local banks for real-name account verification
Since the 17 exchanges, including KuCoin and MEXC, failed to meet these compliance standards, Google restricted their services in South Korea.
List of Blocked Crypto Exchanges
The South Korean government has not disclosed the full list of restricted platforms. However, major exchanges like:
- KuCoin
- MEXC
- Pionex
- Bitget
- Bitglobal
…are reportedly among those affected.
Impact on Crypto Traders in South Korea
South Korean crypto traders relying on offshore exchanges may now find it harder to access certain services. While Google’s action does not directly shut down these platforms, it limits their reach within the country.
For users, this means:
Increased difficulty accessing global crypto markets Need to shift to compliant exchanges like Upbit & Bithumb Possible rise in VPN usage to bypass restrictions
The Future of Crypto Regulations in South Korea
With increasing government scrutiny and global regulatory pressure, South Korea continues to tighten its grip on the crypto market. More offshore exchanges may face restrictions unless they comply with the country’s licensing requirements.
For now, South Korean traders must rely on compliant exchanges while monitoring regulatory updates to avoid potential service disruptions.
