South Korea is raising the bar for overseas crypto exchanges. As of October 13, the Financial Intelligence Unit has ordered domestic web access blocked for 27 unregistered offshore venues, including MEXC.
Until now, regulators mainly targeted app distribution, restricting access through Google and Apple stores. This new move targets the web itself, meaning Korean users who could work around app bans by using browser access may now face domestic blocks.
The Korea Communications Standards Commission approved the measure after reviews earlier in October, marking a shift from app restrictions to direct website blocks. Platforms targeted are those serving local users without meeting legal requirements, including information security certification and registration with the FIU.
CoinDesk reported 28 registered virtual asset service providers locally, deepening the divide between compliant domestic operators and offshore sites. For users, the immediate shift is not about price movement, it is about losing a channel.
For other jurisdictions, the precedent signals regulators do not have to stop at app stores when enforcing against offshore platforms. The effectiveness of these web blocks, especially against domain switching or mirror sites, remains to be seen, but the direction is set: access can be cut before any consumer loss is reported, not just in reaction to it.