Google Play blocks 17 non-registered crypto apps in South Korea and aims at foreign exchanges such as Kucoin and Mexc

Google Play blocks 17 non-registered crypto apps in South Korea and aims at foreign exchanges such as Kucoin and Mexc

Google Play blocks 17 non-registered crypto apps in South Korea

Google Play recently removed 17 non-registered crypto applications from the South Korean App Store. This measure is particularly directed against foreign exchanges such as Kucoin and MexC, which are not registered in South Korea.

In South Korea, there are strict regulations for crypto platforms and services that aim to protect users and prevent illegal activities. Google Play's decision is a further step in the effort to ensure compliance with local laws and to strengthen the trust of users in digital currencies and their trading platforms.

By blocking these applications, Google Play would like to ensure that only those crypto apps are available that meet the legal requirements in South Korea. This measure could be interpreted as part of a larger strategy in order to maintain the integrity of the market and to minimize potential risks for users.

The step of Google Play could also have an impact on the use of crypto services in South Korea, since many users are dependent on these platforms to act with digital currencies. The blocking shows how important it is to move within the framework of the legal regulations and to always keep an eye on the safety of the users.

Overall, this situation illustrates the challenges with which crypto platforms are faced, especially in countries with strict regulatory framework. It remains to be seen how the availability of crypto apps in South Korea will develop in the future and whether further measures will follow from Google Play or other platforms.