Google Blocks New Installations of 29 Overseas Crypto Exchanges on South Korean Google Play

At least 29 overseas cryptocurrency exchange apps have been blocked from new installation on South Korea's Google Play store. This includes major exchanges OKX and Bybit, according to a recent investigation by Digital Asset.

The move is a result of Google's voluntary policy tightening, which requires apps like cryptocurrency exchanges to file a Virtual Asset Service Provider (VASP) report with the Financial Intelligence Unit (FIU). South Korean law mandates that even overseas operators targeting the domestic market must file a prior report with the FIU.

The discrepancy between the operators reported by the FIU and those blocked from installation has emerged. While 14 exchanges were formally reported to investigative agencies, including MEXC and KuCoin, 15 others have had their app distribution blocked despite not being reported. This includes globally high-volume exchanges OKX and Bybit.

The policy shift was first reported in January of this year, sparking concerns that major overseas exchanges lacking VASP registration in South Korea could face future blocks. The new-install restriction affects Android devices within South Korea but does not block access via web browsers to exchange websites or app downloads through Apple's App Store.