Share this article
South Korea's Financial Watchdog Warns Foreign Exchanges Must Register in 2 Months
The Korea Financial Intelligence Unit is pushing for exchanges to register in line with new anti-money laundering laws.
Updated Sep 14, 2021, 1:29 p.m. Published Jul 22, 2021, 7:07 a.m.
Foreign crypto exchanges that have customers in South Korea must register with the country's financial watchdog in the next two months or face blocked access and possible criminal inquiries.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The Korea Financial Intelligence Unit (KFIU) is pushing for exchanges to register in line with the country's new anti-money laundering laws, according to a report by Yonhap News on Thursday,
- An updated Financial Transactions Reports Act requires all crypto exchanges to register with the country’s regulators by Sept. 24 and obtain a certificate on information security.
- Yonhap cites officials of the Financial Services Commission who said that no foreign crypto exchanges had obtained a certificate so far, echoing previous statements from its chair in April.
- South Korea has been pushing for tougher legislation against virtual asset service providers, including exchanges.
- The country doesn't recognize crypto as legal assets, even though it plans to start collecting tax generated by crypto revenue next year.
Read more: South Korean Banks to ‘Review’ Partnerships With Crypto Exchanges
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
LUNC Surges Over 160% in a Week as Do Kwon Sentencing and Token Burns Draw Traders
The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns.
What to know:
- Terra Classic (LUNC) surged 74% to $0.0000072, up 160% in the past week, on exploding trading volume, ahead of Terraform Labs founder Do Kwon's sentencing on Dec. 11.
- The rally is driven by speculation that a final verdict could bring clarity to the project, as well as technical factors like token burns, with 849 million LUNC destroyed in the past week.
- The token's momentum is also fueled by Binance's pause on LUNC withdrawals ahead of the Terra Chain's v2.18 upgrade, which aims to improve network stability, despite the token remaining volatile.
Top Stories
