Google Play Blocks 17 Crypto Exchanges in South Korea
South Korea’s Financial Services Commission (FSC) has successfully pushed Google Play to restrict 17 unregistered overseas crypto exchanges operating in the country. This move aims to prevent money laundering and protect local users from potential financial risks.
Regulators Tighten Crypto Oversight
On March 21, the Financial Intelligence Unit (FIU) of the FSC signaled possible sanctions against exchanges that failed to register under the Specified Financial Information Act. By March 26, Google Play had blocked 17 platforms, including KuCoin, MEXC, and Phemex, restricting new downloads and updates.
More Restrictions on the Way?
The FSC is now coordinating with Apple Korea and internet regulators to extend access restrictions to the App Store and web platforms. Meanwhile, South Korea’s broader crypto crackdown continues, with authorities recently raiding Bithumb over financial misconduct allegations.
As regulatory scrutiny intensifies, the future of unregistered crypto exchanges in South Korea remains uncertain.
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