According to, Google will require that crypto exchange and custodial wallet apps listed on Google Play in South Korea upload proof of accepted Virtual Asset Service Provider (VASP) registration with the Financial Intelligence Unit by Jan. 28. The rule may block apps that do not submit the required FIU acceptance documents, preventing new downloads in the country.
The change could limit access to offshore platforms, notably Binance and OKX, which face barriers to formal FIU registration without a local legal entity. Binance holds a 10% stake in local exchange Gopax but lacks its own South Korean entity.
FIU registration typically requires a local company, anti-money laundering systems, on-site inspections and Information Security Management System certification. These steps make formal registration difficult for many overseas firms.
Google told developers to upload FIU acceptance via its developer console, and Binance warned users that, once enforced, they “may temporarily be unable to re-download” the app after device changes. “not unique to Binance and impacts other crypto apps as well,” the company added.
The rollout follows a broader Google Play update that ties crypto app availability to local licensing standards in multiple jurisdictions.
South Korea’s National Assembly also recently passed amendments to allow tokenized securities within existing disclosure and investor-protection rules (Ed. note: this tightens app access while expanding blockchain use in capital markets).
