Crypto exchanges that serve South Korean users face a major shake-up as Google steps up enforcement of a new app store policy. Starting on January 28, 2026, Google Play in South Korea will require overseas cryptocurrency exchanges to show proof of local regulatory approval before their apps can be listed or updated on the platform. The move creates new compliance challenges for global exchanges and could reshape the competitive landscape of the South Korean crypto market. It also reflects broader trends in how tech platforms enforce financial rules.
What the New Google Play Rules Require
Under Google’s updated policy for South Korea, any cryptocurrency exchange or custodial wallet app that wants to remain on the Google Play Store must upload documentation proving that its Virtual Asset Service Provider (VASP) registration has been accepted by the country’s Financial Intelligence Unit (FIU).
Simply submitting paperwork is not enough. Google has clarified that exchanges must obtain formal approval from the FIU and then upload this acceptance as part of their app listing. Without this accepted registration file, apps risk being blocked from the Play Store for users in South Korea. This requirement aligns Google’s app marketplace rules with South Korean regulatory expectations. The FIU oversees the registration of Virtual Asset Service Providers, including anti-money-laundering checks, security standards, and operational controls.
Offshore Exchanges Under Pressure
Major global exchanges could be affected by the change. Binance and OKX, two of the largest crypto trading platforms worldwide, may find it difficult to keep their Android apps available in South Korea unless they secure FIU acceptance. Neither firm currently operates a fully registered exchange entity in the country.
For users of these platforms, the impact could be practical and immediate. If an app is blocked, South Korean customers will not be able to download it from Google Play or receive updates. This is a disruptive scenario for everyday traders who rely on mobile access for market alerts, price tracking, and secure login. Binance has acknowledged the updated policy and said it is engaging with Google to seek a resolution that preserves user access while meeting regulatory expectations. OKX has not publicly commented on the changes.
Why Registration Is Difficult
South Korea has strict financial rules for digital asset providers. To register as a VASP with the FIU, exchanges generally must set up a local legal entity, show robust anti-money-laundering systems, undergo security audits, and obtain certifications such as the Information Security Management System certification.
These steps are time-consuming and resource-intensive. For large exchanges with global operations, meeting South Korea’s local registration deadline may require restructuring parts of their business model. Smaller or mid-sized crypto firms may find it especially challenging.
Broader Regulatory Context in South Korea
South Korea has been tightening its crypto regulation for years. The country already requires domestic exchanges to partner with local banks on real-name accounts and comply with strict reporting standards. That regulatory environment helps protect investors, but it also means that overseas platforms face high barriers to entry.
In the past, the FIU and the Financial Services Commission moved to block unregistered exchanges from Google Play. In March 2025, regulators successfully pressured Google to restrict access on its app store to at least 17 unregistered offshore exchanges. Those restrictions prevented new downloads and future updates, effectively curtailing how easily South Korean users could interact with offshore platforms.
User Reactions and Market Impact
Many traders in South Korea rely on mobile apps for fast access to markets. Losing easy access to major offshore platforms could push users to domestic exchanges instead. Local exchanges such as Upbit and Bithumb already dominate market volume in the country.
Supporters of the policy argue that it will improve investor protection. Native apps on Google Play must now comply with local AML standards and other safeguards. Supporters also see the policy as a way to reduce the risk of scams and fraud that have occurred in unregulated parts of the crypto industry. Critics say the change may reduce competition and innovation. When global exchanges cannot easily list their apps, users may have fewer choices and higher trading fees. Some feel that forcing users toward a limited set of domestic players could stifle growth in emerging sectors like decentralized finance (DeFi).
Workarounds and Risks
Users who want to continue using offshore platforms may turn to workarounds. One option is accessing services through a mobile web browser. Web-based access does not depend on official app listings.
Another option is sideloading apps through APK files. This process allows users to install apps outside of Google Play. However, sideloading carries significant security risks. Files outside the Play Store do not go through Google’s security checks, making users vulnerable to malware, phishing, and other threats.
Comparisons With Other App Stores
The updated rules apply specifically to Google Play and Android users in South Korea. Apple’s App Store has not implemented the same blanket requirement for crypto apps in this market. South Korean iPhone users may still access some foreign exchange apps through Apple’s platform.
This situation creates an uneven experience across mobile ecosystems. Android users could face stricter limitations than iOS users, potentially influencing where developers choose to focus their local compliance efforts.
What Happens Next
As of mid-January 2026, the deadline for compliance is clear. Any overseas crypto exchange that wants to remain on Google Play in South Korea must complete FIU registration and upload the appropriate documentation by January 28.
If platforms fail to meet the requirement in time, their apps may no longer be available for Korean users. Over time, this could shift user behavior and trading activity toward domestic exchanges or alternative trading methods. The coming weeks will reveal how exchanges adapt. Those that succeed in navigating South Korea’s regulatory hurdles will retain access to a sophisticated and well-developed crypto market. Those that do not may lose visibility and users in one of Asia’s most active crypto trading centers.
