Korean Crypto Exchanges Restricted on Google Play

Korean cryptocurrency exchanges have faced restrictions on new downloads in Google Play.

A report by Digital Asset found that at least 29 overseas crypto asset exchange apps were unavailable for new downloads on July 24. The investigation targeted the top 50 derivative trading platforms listed on CoinMarketCap, with results showing that 29 of these exchanges had their apps restricted from installing on Android devices through Google Play.

The affected exchanges include OKX, Bybit, MEXC, KuCoin, BingX, XT.COM, Gemini, LBank, and several others. According to the report, at least 14 of these exchanges were listed as unreported by the Korean Financial Information Analysis Institute (FIU), a designation that implies involvement in illicit activities.

The restriction on new downloads follows Google's policy requiring developers to obtain approval from the FIU before offering their apps for sale. While OKX and Bybit had previously been available, they were also restricted from new installations as of July 24.