Crypto Apps Face Removal From Google Play Store Under New Korean Compliance Rules

TLDR

• Crypto apps in South Korea must upload FIU approval proof to Google Play by January 28.
• Non-compliant apps may be blocked, preventing new downloads and access after reinstallations.
• Offshore exchanges like Binance and OKX may face removal due to lack of local registration.
• Google is enforcing its global crypto app policy requiring local regulatory approvals.

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Crypto exchanges operating without local approval in South Korea may soon be blocked from Google Play. Starting January 28, Google will enforce new requirements that mandate proof of registration from South Korea’s Financial Intelligence Unit (FIU) for crypto exchange and wallet apps.

Google to Enforce FIU Registration Requirement from January 28

Google will begin requiring crypto exchange and wallet apps listed on its South Korean Play Store to show proof of Financial Intelligence Unit (FIU) registration. This move, starting January 28, is part of Google’s ongoing efforts to align apps with financial regulations in each country where they operate.

According to South Korean news outlet News1, developers must submit documentation confirming that their Virtual Asset Service Provider (VASP) registration has been accepted by the FIU. Developers must upload this proof through Google Play’s developer console.

If developers fail to comply, their apps may be blocked in the South Korean market. This could prevent users from downloading affected apps, especially when changing devices or reinstalling after an update.

Foreign Crypto Platforms Face Barriers to Local Registration

The new requirement may disrupt access to several international crypto exchanges that do not operate through a local legal entity. Platforms such as Binance and OKX are expected to be affected due to the complex registration process.

To register with the FIU, exchanges must establish a local company, pass security certifications such as ISMS, and undergo inspections. Binance, despite owning a minority stake in local exchange Gopax, does not operate a standalone legal entity in South Korea. OKX has previously been flagged by local authorities for operating without registration.

A Binance spokesperson said, “This policy is not unique to Binance and affects other crypto apps as well. We are actively engaging with Google to seek a constructive resolution.”

Policy is Part of Google’s Global Crypto App Regulation Framework

This update is not a directive from the South Korean government but rather part of Google’s broader enforcement of its cryptocurrency policy. The policy update was announced in August 2025, requiring crypto exchange and custodial wallet apps to comply with licensing and regulatory frameworks specific to each country.

In the United States, for example, developers must register with the Financial Crimes Enforcement Network (FinCEN), while in the European Union, they must obtain crypto-asset service provider licenses.

By requiring local regulatory compliance, Google aims to ensure all listed financial apps operate legally and transparently within their target markets.

Tighter App Access Comes as South Korea Advances Blockchain Rules

The Google Play policy change comes as South Korea moves forward with its blockchain integration into traditional finance. The National Assembly recently passed updates to the Electronic Securities Act and the Capital Markets Act.

These revisions allow for the use of tokenized securities under existing legal frameworks. Distributed ledger-based securities will be treated as traditional instruments, requiring the same level of investor protection, licensing, and public disclosure.

This dual approach — tightening app access while advancing tokenization laws — reflects South Korea’s intention to control the risks of crypto markets while adopting blockchain technology in regulated sectors.

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