Starting January 28, 2026, Google Play will stop allowing downloads and updates of overseas crypto exchange and wallet apps in South Korea unless those platforms show they are registered with the country’s Financial Intelligence Unit (FIU).
Proof of Registration Must be Uploaded
According to Google’s new rule, developers listing crypto exchange or custodial wallet applications must upload proof that their VASP registration has been accepted by FIU through the developer console. This is not a technical tweak — it ties app distribution directly to local control authorization.
The result is fast and effective. For Android users in Korea, apps from major overseas platforms will no longer be available for new installations or updates through Google Play. Existing installations may continue to work for a while, but they won’t receive app updates or security fixes through the official store.
Local Crypto Platforms Lead Compliance
Based on reports, 27 domestic platforms have completed FIU registration, including well-known names such as Upbit and Bithumb. That leaves most exchanges in other countries without the required paperwork, pushing them out of the Korean Google Play market.
For most users, this change will be felt immediately. If you rely on an offshore application to manage positions or move funds, not being able to download updates can complicate routine tasks and increase security risks. Web access to the exchange will always be an option, but it’s less convenient and sometimes less secure than using the official app.
International exchange is subject to several requirements to gain admission to FIU. They usually have to establish a local legal entity, install anti-money laundering systems, and obtain national information security certificates before their VASP files are accepted. These steps can be expensive and time consuming.
How the Market Can Change
Some analysts say the move will boost more trading volume for Korean-registered firms. Others warn that it may encourage dangerous practices — such as downloading APKs from third-party sites or using VPNs — that expose users to crime and malware. Reports say the development of app store rules follows previous enforcement actions and is aimed at closing gaps in oversight.
The availability of the application will be linked to the regulatory documents. If the platform shows the acceptance of FIU in the Google console, its application can always be listed and updated. Otherwise, the app will be removed or blocked from being updated on the Google Play Store.
Featured image from Unsplash, chart from TradingView
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