In accordance with a put up by Chinese language cryptocurrency journalist Wu Blockchain, Google Play has blocked unregistered overseas VASP apps comparable to KuCoin and MEXC in South Korea.
Accordingly, Google has blocked entry to 17 exchanges that aren’t registered in South Korea since March 25, upon the request of the South Korean authorities.
South Korea’s regulator, the Monetary Providers Fee (FSC), mentioned in an announcement that 17 unregistered overseas change apps, together with KuCoin and MEXC, have been blocked from the Google Play Retailer in South Korea.
The FSC additionally acknowledged that purposes belonging to the exchanges in query can’t be put in and current customers can not replace.
The FSC famous that these cryptocurrency exchanges have been working with out correct registration whereas focusing on Korean customers.
“It’s anticipated that the home entry blocking software of unreported companies to Google purposes will make a big contribution to stopping cash laundering by means of digital property and hurt to home customers sooner or later.”
In accordance with the FSC’s assertion, the blocked exchanges have been listed as follows: “KuCoin, MEXC, Phemex, XT, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Professional, CoinCatch, WEEX and BitMart.”
The FSC added that the standards for evaluating the home enterprise actions of exchanges are “1. Whether or not there’s a Korean-language web site, 2. Whether or not there are advertising and marketing actions to draw Korean clients, 3. Whether or not funds in Korean gained are supported.”
Because of this, customers in South Korea are now not in a position to set up or replace affected apps by way of Google Play.
*This isn’t funding recommendation.
