South Korea blocks 14 Cripto Exchangees in Apple Store – Report

South Korea expands the ban on the application of digital funds companies serviced by their citizens. 11. April, Financial Services Commission (FSC) announced that 14 Cripto exchanges blocked at Apple Store. Among the affected exchanges are Kucoin and Mexc.

The report, which was publicly released 14 April, says the prohibited exchanges allegedly worked as unregistered overseas virtual operators. The report also states that the analysis institution of financial information (FIU) will continue to promote blocking applications and Internet sites of such operators to prevent money laundering and customer damage.

Application blocking request on Apple Store comes after Google Play Blocked access to several unregistered exchanges 26. Marta. Kucoin and Mexc were also targeted during the Google Play Apps blocking. The FSC has published a list of 22 unregistered platforms operating in the country, and 17 of them are already blocked on Google’s market.

According to the FSC report, users will not be able to download applications on the Apple Store, while existing users will not be able to update applications. FSC notes that “unclaimed business activities of prosecution issues” with sentences of up to five years in prison and fines up to 50 million won (35,200 dollars).

FIU considers sanctions against unregistered Vasps

21. Marta, South Korean publication Hankiung reported that FIU and FSC were In view of the sanctions against the CRIPTO exchange work in a country without registration for local regulators. Sanctions involved blocking access to companies.

In South Korea, CRIPTO operators, mediation, management and storage must be reported to FIU. Non-compliance with registration and report is subject to penalties and sanctions.

Related: South Korea reports the first suitcase for crypt’s pump and landfill on a new law

The last sanctions come as a cripto Reaching “Saturation” points in South Korea. From 31. Marta, Customer Customers Care of Card has brought 16 million – equivalent to over 30% of the population. Industry officials predict that the number could surpass 20 million to the end of 2025.

Over 20% of southern Korean public officials hold cryptocurrencyWith the total amount reaching $ 9.8 million on March 27. March. Assets varied and included Bitcoin (Btc), Ether (El), XRP (XRP) and Doghoin (Exaggerate).

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