Google Play will require a completed registration acceptance from the Financial Intelligence Unit for cryptocurrency exchange applications in South Korea starting January 28, effectively blocking major foreign platforms for Android users in the country.

Only 27 domestic exchanges have completed the registration process as a virtual asset service provider with the South Korean FIU.

The major international platforms, including Binance, Bybit, and OKX, do not have the required registration, which means their applications will no longer be available for new downloads or updates via Google Play.

Very strict registration requirements

To obtain registration acceptance from the FIU, foreign exchanges must create a local legal entity, establish anti-money laundering systems, undergo on-site inspections, and obtain Information Security Management System certification from Korean authorities.

Google clarified to the Korean media News1 that developers must upload proof of completed registration acceptance via the developer console, rather than just proof of application submission.

South Korean financial authorities have intensified their oversight of cryptocurrency operators, conducting on-site inspections at offices and examining the eligibility of shareholders of registration applicants.

A spokesperson for Binance told Cointelegraph that the company "is maintaining an active dialogue with Google to find a constructive solution," while emphasizing that the policy affects multiple crypto platforms.

Users who uninstall applications, change devices, or perform a factory reset will no longer be able to reinstall the affected applications after the deadline of January 28.

Also read: Hyperliquid Lists Monero Perpetuals as XMR Hits $797 All-Time High

Part of a global policy application

The implementation of these rules in South Korea follows the August 2025 policy update from Google Play, which requires cryptocurrency applications to comply with licensing requirements specific to each country in several jurisdictions, including the United States, the European Union, and Japan.

This crackdown is based on actions from March 2025, when South Korean authorities blocked 17 unregistered foreign exchange applications via Google Play at the request of the FIU.

The restrictions on applications come as the National Assembly of South Korea adopted, on January 15, amendments to the Electronic Securities Act and the Capital Markets Act, establishing a legal framework for tokenized securities, which is set to come into effect in January 2027.

These contrasting approaches highlight South Korea's dual strategy: to restrict unregistered mainstream crypto platforms while developing a regulated blockchain infrastructure for traditional securities markets.

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