Google Play: "Blocking of unreported overseas crypto exchange apps on hold due to internal circumstances"
Summary
- Google Play said it had announced a measure to block apps from unregistered virtual asset service providers (VASPs) in Korea, but the actual implementation is likely to be postponed for the time being.
- It said major overseas crypto exchange apps such as Binance and Bitget remain available for download on the Google Play Store without restrictions.
- Google Play said it established a policy to block unreported overseas crypto exchange apps based on Korea policy, but the actual timing is being delayed due to internal circumstances and the exact timing has not yet been decided.
Google Play was set to block apps from unregistered virtual asset service providers (VASPs) in Korea, but the actual implementation now appears likely to be delayed for the time being.
As of the 29th, major overseas crypto exchange apps such as Binance and Bitget remain available for download on the Google Play Store without restrictions. The blocking measure, originally slated to take effect on the 28th, has not yet been implemented.
The Korea Financial Intelligence Unit (FIU) has designated overseas crypto exchanges that have not registered as operators in the Korean market as unreported operators under the Act on Reporting and Using Specified Financial Transaction Information. Based on Korea policy, Google Play established a plan to block the relevant exchange apps and had announced the 28th as the implementation date.
A Google Play official said, "The actual timing of the block is being delayed due to internal circumstances. We are reviewing the matter through relevant departments and consolidating our position, and the exact timing has not yet been decided."
YM Lee
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