South Korea Bans 14 Crypto Exchanges on Apple Store

South Korean regulators are intensifying their efforts against digital asset firms by requesting that Apple block access to 14 apps domestically.

According to a recent report, these apps belong to unregistered foreign crypto operators. Among the targeted exchanges are KuCoin and MEXC, whose apps have been inaccessible in South Korea since April 11.

Foreign virtual asset businesses aiming to operate in South Korea must report to the Financial Intelligence Unit (FIU) as required by the Act on Reporting and Use of Specific Financial Transaction Information.

The FIU has emphasized that unreported activities could lead to criminal penalties. In past years, regulators have targeted overseas operators running domestic activities without proper reporting, blocking access through websites and apps.

This crackdown aligns with South Korea’s broader strategy to shut down illegal crypto operations.