When you're trading crypto in Crypto Exchange Korea, a highly regulated, fast-moving market where exchanges must follow strict identity rules to operate legally. Also known as South Korean crypto platforms, it's one of the most monitored markets in the world—not because it's chaotic, but because it's tightly controlled. Unlike places where you can sign up anonymously, Korea requires every user to verify their identity through government-issued ID. This isn’t optional—it’s the law. And if an exchange ignores it, the penalties aren’t just fines. They’re existential.
The biggest example? Upbit, South Korea’s largest crypto exchange, which faced $34 billion in potential fines in 2025 for failing to verify users properly. Also known as the dominant Korean trading platform, it had to overhaul its entire system overnight. This wasn’t just a warning—it reset the entire industry. Every exchange now follows KYC rules like gospel. And if they don’t? KYC crypto is the mandatory process that links your real identity to your crypto wallet, required by law in Korea and increasingly everywhere else. Also known as Know Your Customer verification, it’s the reason you can’t just create an account with a fake name and start trading. Scammers know this. That’s why fake exchanges like LongBit and AnimeSwap pretend to be Korean platforms—they know users trust Korea’s reputation for security. But real exchanges don’t need flashy ads. They follow the rules.
What you’ll find in these posts isn’t just news about fines or scams. It’s a map. A map of how regulation shapes what’s possible in Korea’s crypto space. You’ll see how Upbit’s collapse forced global changes, how fake airdrops prey on hopeful traders, and why even the smallest exchange must prove it’s legitimate. There’s no gray area here. If a platform doesn’t show its license, it’s gone. If a token has no trading volume, it’s dead. If an airdrop asks for your private key? Run. This isn’t theory. It’s what’s happening right now in one of the world’s toughest crypto markets.
Bitsonic is a Korean-only crypto exchange with no English support, no mobile app, and limited transparency. It's only practical for fluent Korean speakers with local bank accounts. For everyone else, better alternatives exist.