Korean Crypto Exchanges Struggle as Google Blocks Over Half of Foreign Options

Nearly three in five overseas crypto exchanges are now unavailable on South Korea's Google Play Store, according to data from Digital Asset. This means that at least 29 foreign exchange apps can no longer be installed through Google Play in South Korea.

The affected platforms include OKX, Bybit, MEXC, KuCoin, Gemini, Backpack and BitMEX. Other exchanges impacted by the block include BingX, Phemex, WhiteBIT, CoinEx, BitMart, Pionex, BTSE and WEEX. Binance was not on the list of 29 exchanges that are no longer available for installation.

This move by Google comes after South Korea's Financial Intelligence Unit asked the tech giant to block 17 overseas exchanges it accused of operating locally without registration. However, Google introduced its own rule, requiring crypto exchanges targeting South Korea to have successfully filed as virtual asset service providers with the FIU.