TechFlow, April 15 — According to Cointelegraph, South Korea's Financial Services Commission (FSC) announced the removal of applications from 14 unregistered overseas cryptocurrency exchanges on Apple's App Store. Earlier, Google Play removed apps from 17 unregistered exchanges on March 26.
The FSC stated that existing users will no longer be able to update these applications. Under South Korean regulations, operating without registration could result in up to five years of imprisonment and a fine of up to 50 million Korean won. The Korean Financial Intelligence Unit (FIU) will continue advancing the blocking of applications and websites operated by unregistered entities to prevent money laundering risks and protect user rights.
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