Google Play Blocks 17 Cryptocurrency Exchange Apps in South Korea

The Financial Intelligence Unit (FIU) of South Korea’s Financial Services Commission (FSC) reported the blocking of 17 foreign cryptocurrency exchanges on Google Play.

Authorities expect this measure to prevent money laundering and potential harm to local users.

The FIU confirmed that the requirement is linked to the “Act on Specific Financial Information.” Under this law, exchanges are obliged to register with regulators.

On March 26, the FSC published a list of 22 unlicensed platforms. Of these, 17 apps are now unavailable on Google Play.

The block affects KuCoin, MEXC, Phemex, XT, CoinEx, BitMart, and Poloniex. Their apps can no longer be downloaded, and updates for already installed programs are also unavailable.

The FSC believes this decision will reduce risks for users and complicate the use of cryptocurrencies for financial crimes.

The agency is also in talks with Apple Korea and the Korea Communications Standards Commission to restrict access to unregulated platforms through the App Store and individual websites.

Earlier in March, the Seoul prosecutor’s office conducted searches at Bithumb’s offices in a case against the company’s former head, Kim Dae-sik. The investigation alleges he used corporate funds to purchase a personal apartment.