Google Play Drops International Crypto Exchange Apps In South Korea
Starting January 28, 2026, Google Play will cease permitting downloads and updates of abroad crypto change and pockets apps in South Korea until these platforms show they’re registered with the nation’s Financial Intelligence Unit (FIU).
Registration Proof Must Be Uploaded
According to Google’s new rule, builders itemizing crypto change or custodial pockets apps should add proof that their VASP registration has been accepted by the FIU by the developer console. This is just not a technical tweak — it ties app distribution on to native regulatory approval.
The result’s rapid and sensible. For Android customers in Korea, apps from main abroad platforms will now not be out there for brand new installs or for updates by Google Play. Existing installations would possibly hold working for some time, however they won’t obtain app updates or safety fixes by way of the official retailer.
Local Crypto Platforms Lead Compliance
Based on reports, 27 home platforms have accomplished FIU registration, together with well-known names comparable to Upbit and Bithumb. That leaves a number of main worldwide exchanges with out the wanted paperwork, pushing them exterior Google Play’s Korean market.
For many customers, this transformation shall be felt rapidly. If you depend on an abroad app to handle positions or transfer funds, the lack to obtain updates could make routine duties tougher and lift safety dangers. Web entry to exchanges will stay an choice, nevertheless it’s much less handy and typically much less safe than utilizing an official app.
Foreign exchanges face a number of calls for to achieve FIU acceptance. They usually should arrange an area authorized entity, put in place anti-money-laundering techniques, and procure nationwide data safety certifications earlier than their VASP filings are accepted. These steps might be expensive and time consuming.
How The Market Might Shift
Some analysts say the move will push extra buying and selling quantity towards Korea-registered corporations. Others warn that it may encourage dangerous workarounds — comparable to downloading APKs from third-party websites or utilizing VPNs — which expose customers to fraud and malware. Reports say that upgrades to app-store guidelines comply with earlier enforcement strikes and intention to shut gaps in oversight.
App availability shall be tied to regulatory paperwork. If a platform exhibits FIU acceptance in Google’s console, its app can keep listed and up to date. If not, the app shall be eliminated or blocked from being up to date in Korea’s Play Store.
Featured picture from Unsplash, chart from TradingView
