Starting January 28, 2026, Google Play will stop listing or updating overseas cryptocurrency exchange and wallet apps in South Korea’s Android app store.
This isn’t just another rule change; it’s one of the toughest steps yet in South Korea’s push to keep a tight grip on digital asset platforms through local regulations.
From now on, if a crypto app isn’t registered with South Korea’s Financial Intelligence Unit as a Virtual Asset Service Provider, it’s out.
Only the approved ones stay on the Google Play Store and keep getting updates. If an app doesn’t meet the requirements, people in South Korea can’t download it or update it anymore.
What the New Policy Means
Google’s new policy basically says: if you want your app on the Play Store in South Korea, you need to follow the country’s financial laws, no exceptions.
If you run an overseas exchange or a wallet app, you have to show real proof you’ve been approved by the Financial Intelligence Unit (FIU).
Just sending in paperwork doesn’t cut it. You need the official green light to keep your app up and running for South Korean users.
So, what does that actually involve? Well, you have to show you’ve finished all the anti-money laundering (AML) and Know Your Customer (KYC) steps.
You also need an Information Security Management System (ISMS) certification. And for a lot of companies, this means setting up a legal entity in South Korea.
None of this is cheap or simple, especially for international platforms trying to break into the local market.
Right now, only about 27 local exchanges have jumped through all the FIU hoops. Big homegrown names like Upbit and Bithumb are in the clear.
But the big global players, like Binance, Bybit, OKX, and the like, still haven’t met the requirements.
Unless they get approved, their apps will disappear from Google Play in South Korea, and users won’t be able to install or update them once the deadline hits.
More News: South Korea Proposes 5% Cap on Corporate Crypto Investments
Why This Is Happening
This policy is just one piece of South Korea’s bigger push to get a handle on digital assets. The government’s cracking down on shady platforms, aiming to stop fraud, money laundering and protect everyday people from getting scammed.
Rules keep changing, and it seems like every year brings another round of stricter laws, tighter local licensing, and tougher oversight.
Google isn’t alone here. Other countries like the US, the EU, and Japan have rolled out their own rules too, and Google’s decision lines up with those.
Still, South Korea’s standards are some of the toughest you’ll find anywhere, with strict registration requirements and real muscle behind their enforcement.
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