South Korea to Ban Foreign Crypto Apps on Google Play From Jan. 28
Google Play has told app publishers that, starting Jan. 28, foreign crypto exchange apps offered in South Korea must hold Financial Intelligence Unit (FIU) VASP registration or be removed from the Play Store. The move implements tighter local compliance requirements for non‑domestic platforms and targets firms that have not registered with Korea’s anti‑money‑laundering authority.
The change could sharply reduce access to overseas trading services for South Korean users and consolidate activity on registered domestic exchanges, potentially squeezing competition and cross‑border liquidity. Developers and international exchanges now face a fast deadline to secure FIU registration or shift users to web interfaces or alternative distribution, increasing short‑term disruption and regulatory risk for noncompliant operators.