Google Locks Out Foreign Crypto Exchanges from South Korea

Google will block overseas cryptocurrency exchanges from its South Korean app store starting January 28. The tech giant now requires foreign platforms to complete full regulatory approval from South Korea’s Financial Intelligence Unit before listing apps on Google Play.

This policy shift effectively bars major international exchanges like Binance and OKX from the Korean market. Meeting Korea’s strict compliance requirements will take considerable time, leaving millions of domestic investors without access to their preferred trading platforms.

South Korea’s Google Play will enforce new rules from Jan 28, requiring overseas crypto exchanges to complete FIU VASP registration and obtain formal acceptance to remain listed or update apps. Google clarified that filing alone is insufficient—proof of FIU approval must be…

— Wu Blockchain (@WuBlockchain) January 16, 2026

The updated policy demands exchanges submit proof of completed Virtual Asset Service Provider registration. Google confirmed to media outlets that developers must upload a “report repaired completed” document to publish their apps.

New users will be unable to install non-compliant exchange apps after the deadline. Existing users face eventual lockouts as mandatory app updates become impossible without regulatory approval.

South Korea’s Strict Requirements Create Impossible Barrier

South Korea’s VASP registration process presents formidable obstacles for foreign exchanges. Applicants must obtain Information Security Management System certification from the Korea Internet & Security Agency.

Beyond technical requirements, regulators now examine major shareholder eligibility during reviews. Financial authorities have expanded scrutiny to include on-site inspections of domestic offices.

These combined requirements make compliance virtually impossible for overseas operators. Industry analysts view the policy as blocking foreign exchange access at its source.

Korean investors have relied heavily on international platforms for derivatives trading. Domestic exchanges like Upbit and Bithumb prohibit cryptocurrency futures trading under local regulations.

The timing creates significant disruption for active traders. Many Korean users chose foreign platforms specifically to access leveraged products unavailable domestically.

Financial apps typically require regular updates for continued functionality. Without update capability, even previously downloaded exchange apps will eventually become unusable.

Global Policy Overhaul Hits Multiple Markets

Google’s crackdown extends beyond South Korea to cryptocurrency platforms worldwide. The company updated policies for exchanges and software wallets across all markets simultaneously.

In the United States, European Union, and Japan, only officially registered businesses may list apps on Google Play. Each country’s requirements follow local financial authority registration standards.

The policy change arrives amid broader regulatory tightening in Asia’s fourth-largest economy. South Korean authorities have intensified oversight of digital asset businesses throughout recent years.

Meanwhile, South Korea recently announced plans to lift its nine-year ban on corporate cryptocurrency investment. The Financial Services Commission finalized guidelines allowing listed companies and professional investors to trade digital assets.

🚨 BREAKING: SOUTH KOREA MOVES TO LIFT CORPORATE CRYPTO BAN, ALLOWING LISTED FIRMS TO INVEST UP TO 5% OF EQUITY IN TOP 20 CRYPTOCURRENCIES, ENDING THE 2017 RESTRICTION. pic.twitter.com/xcJvo8JzVz

— Coinwaft (@coinwaft) January 12, 2026

Approximately 3,500 entities will gain market access under the new corporate framework. Eligible organizations include publicly listed firms and registered professional investment corporations.

The rules permit corporations to invest up to five percent of equity capital annually. Investment options remain limited to top-20 cryptocurrencies by market capitalization on Korea’s five major exchanges.

Regulators will mandate staggered execution and order size limits for institutional trades. Authorities continue deliberating whether dollar-pegged stablecoins like Tether’s USDT qualify under the new rules.

Following this development, exchanges operating within compliance frameworks stand to benefit significantly. Domestic platforms could capture trading volume previously flowing to offshore competitors.

The dual policy shift creates a complex landscape for Korean crypto markets. Corporate doors open as retail pathways to foreign platforms close simultaneously.

In contrast to previous years, regulators now favor controlled domestic growth over unrestricted international access. This strategic pivot reshapes Korea’s position within the global cryptocurrency ecosystem.