Unregistered Foreign Crypto Exchanges Continue to Target Korean Institutional Clients

Unregistered foreign cryptocurrency exchanges are operating in Korea despite repeated warnings from financial authorities. These exchanges are targeting institutional clients and recruiting sales managers to handle their operations.

The issue has been ongoing for years, with authorities blocking access to these exchanges and notifying investigative agencies. Domestic exchanges face heavy sanctions if they transact with unregistered operators.

Industry officials say that unregistered foreign exchanges are able to operate freely in Korea due to the lack of regulation and oversight.