South Korea enforces VASP registration rules, removing 29 major crypto exchange apps from Google Play for new downloads.
Google Play has removed 29 overseas cryptocurrency exchange apps from its South Korean platform, including OKX, Bybit, and KuCoin. The move follows local regulations requiring crypto exchanges and custodial wallets serving Korean users to register as virtual asset service providers (VASPs).
The restrictions apply only to new downloads on Google Play and do not affect existing users or other app stores like Apple’s. The exchanges remain accessible via websites. The policy targets CoinMarketCap’s top 50 overseas crypto derivatives platforms.
No immediate market reaction was reported, but the move signals stricter enforcement of South Korea’s crypto regulations.