South Korea to block 2 crypto firms as illegal operator tally hits 47

South Korea’s Financial Intelligence Unit has requested domestic access restrictions on two unregistered cryptocurrency businesses and referred three operators for investigation over suspected violations of the country’s financial laws. Summary South Korea’s Financial Intelligence Unit has requested domestic access restrictions on TetherMax and SuperTrust after the two platforms were identified as suspected unregistered cryptocurrency operators. DAXA has referred TetherMax, SuperTrust and Aegis Ventures for investigation, bringing the total number of unregistered crypto businesses reported to investigative authorities to 47. Aegis Ventures was excluded from the website blocking request because it does not operate a separate website or mobile application, although it remains among the businesses referred for investigation. A June inspection found that unregistered crypto operators charged trading fees ranging from 1.5% to 10%, with the highest rates reaching approximately 62 times the average charged by South Korea’s five largest won exchanges. According to an Oct. 30 report from Yonhap News Agency, the Financial Intelligence Unit (FIU), which operates under the Financial Services C...