Google Play to Block Unregistered Crypto Apps in South Korea Starting Jan. 28

Highlights:

• Google Play will block crypto apps in South Korea that fail to submit FIU registration proof by Jan. 28.
• Overseas exchanges are facing app removal risks due to strict local entity AML and ISMS certification rules.
• Korea’s crypto enforcement now combines app store controls with broader market and reporting reforms.

Google will enforce new crypto app rules in South Korea starting January 28. The policy targets crypto exchanges and custodial wallet apps listed on Google Play. Under the rule, developers must submit proof of completed registration with South Korea’s Financial Intelligence Unit. Google requires platforms to upload a “Report Receipt Complete” document through its developer console. Without this filing, Google will block affected apps in South Korea.

The rule, according to local news outlet News1, applies to both domestic and overseas platforms. Google affirmed that any app that does not comply will be blocked to avoid new users getting on board. Access might also degrade over time due to the need to update financial apps often. As a result, security patches can cause users to lose the fundamental functionality. Hence, the policy places instant pressure on developers to comply with the regulatory standards.

South Korea already requires crypto platforms serving local users to register as virtual asset service providers. The Google Play rule now enforces that requirement at the app distribution level. As a result, app availability depends on regulatory clearance, not just the app quality. Moreover, Google framed the change as enforcement of existing policy, not a new local mandate.

Google Play to Block Unregistered Crypto Exchanges Without FIU Approval

The new enforcement poses serious challenges for overseas exchanges. Registration requires a local legal entity, full AML controls, and an Information Security Management System certification. That process also includes on-site inspections and infrastructure reviews. Consequently, many offshore firms struggle to meet the requirements within short timelines. In practice, approval remains difficult without a physical presence in Korea.

Major international platforms are facing immediate risk. These include Binance and OKX, which lack full domestic registration. Binance holds a minority stake in a local exchange but operates without a Korean entity. OKX previously faced scrutiny over alleged unregistered operations. Therefore, both platforms could lose app access under the new rule.

Google warned that blocked apps will not allow new downloads in South Korea. In addition, existing users may lose access after device changes or major system updates. For trading apps, update interruptions can severely limit usability. Meanwhile, domestic platforms like Upbit and Bithumb restrict derivatives trading. As a result, many Korean traders rely on offshore platforms for those products.

Enforcement has already intensified across app stores. Regulators blocked unregistered foreign apps on Apple’s App Store in April last year. Google followed with removals through Google Play in March 2025. Now, the coordinated enforcement closes the remaining access routes. Noncompliant firms are also facing fines and possible prison terms under the Special Financial Transaction Information Act.

Korea Expands Crypto Rules Beyond App Store Enforcement

The app store crackdown aligns with the broader regulatory changes. Google applies similar crypto app requirements in other major markets. These include the United States, the European Union, and Japan. Japan removed several foreign exchange apps earlier this year after regulator warnings. Therefore, the South Korea rollout reflects a global compliance trend.

At the same time, South Korea has been building regulated crypto markets. Lawmakers recently advanced rules for tokenized securities trading. Authorities also lifted long-standing limits on corporate crypto investments. Meanwhile, regulators fined Korbit and Dunamu following AML inspections. In the future, Korea plans to adopt the OECD Crypto-Asset Reporting Framework by 2027.