16 foreign crypto exchanges get slapped with regulatory action by Korean regulator | Crypto

16 foreign crypto exchanges get slapped with regulatory action by Korean regulator

– The South Korean financial intelligence unit is taking action against 16 foreign cryptocurrency exchanges for operating illegally in the country.

– The exchanges are accused of operating without registration and targeting Korean consumers.

– The regulator is seeking to impose fines of up to KRW 50 million (US$38,000) on the exchanges.

– The authority is also working to stop the exchanges from operating in South Korea.

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