South Korea Plans Sanctions Against BitMEX, KuCoin, Others: Report

Quick Summary:

Last month, South Korean crypto exchange Upbit was prohibited from allowing new customers to transfer assets to its platform for three months due to non-compliance with its obligations as a regulated provider.

For that reason, they are classed as illegal businesses, as per the country's regulations.

BitMEX, KuCoin and CoinW did not respond to CoinDesk's request for comment.

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Article Details

Author / Journalist: Jamie Crawley

Category: Crypto

Markets: United StatesCubaSouth Korea

Topics: Exchanges Regulation Policy

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-03-21 @ 16:40:53 (14 hours ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 191 words

Reading Time: 2 minutes read

Sentences: 19 lines

Sentence Length: 11 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 27223266

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