FSC Partners with Review Board to Block Rogue Overseas Crypto Operators

The Financial Services Commission (FSC) of South Korea has announced that it is working closely with the Korea Communications Standards Commission to block access to illegal overseas virtual-asset operators.

In a statement released on July 21, the FSC stated that both agencies share concerns about the money-laundering risks posed by unregistered overseas crypto operators and the need to protect domestic users.

The FSC denied allegations made by a local media outlet that they had deliberately delayed the review process or tried to avoid responsibility for blocking access to these operators.