Google Play to Restrict Overseas Crypto Exchanges in South Korea

In a significant regulatory shift, Google Play is set to implement new requirements for cryptocurrency exchanges operating in South Korea. As part of this initiative, all foreign crypto platforms must register as Virtual Asset Service Providers (VASPs) with local authorities to make their applications accessible on the platform.

This move aims to enhance compliance with South Korean laws governing the digital asset space, ensuring that all crypto-related services meet the established regulatory framework. By enforcing these standards, Google Play intends to create a safer environment for users while adhering to the country's stringent guidelines.