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South Korea plans to impose sanctions on unregistered trading platforms such as CEX and CEX.
On March 22, South Korean financial authorities are planning to impose sanctions on unregistered encryption exchanges such as CEX, CEX, CEX, Bitunix, and KCEX that provide Korean language website services without registering with the Financial Intelligence Unit (FIU). The FIU stated that the aforementioned exchanges have not registered as Virtual Asset Service Providers (VASP) as required, and are therefore considered to be operating illegally. Relevant officials said they are negotiating with the Korea Communications Standards Commission to review a plan to block access to these unregistered overseas exchanges, with specific measures expected to be implemented within the year.