Google Play restricted access to several overseas crypto exchanges at the request of South Korean regulators.
Restrictions for 17 crypto exchanges
South Korean regulators requested the restriction of access to 17 unregistered crypto exchanges, leading to their blocking on the Google Play Store. This means users cannot download new apps or receive updates for their existing versions.
Regulatory context
As part of the imposed measures, South Korea’s Financial Intelligence Unit is coordinating with the Korea Communications Standards Commission to block access to crypto exchanges via the internet. These measures aim to prevent money laundering and protect users.
Other actions against exchanges
Previously, South Korean authorities increased control over local cryptocurrency platforms. Recently, prosecutors conducted raids at Bithumb offices, suspecting financial misconduct by the former CEO.
South Korea's regulatory measures reflect an increased focus on ensuring user safety in crypto and preventing financial misconduct.
