Overview
- Developers must upload proof of FIU‑accepted VASP registration to the Play Console by Jan. 28 or face removal from South Korea’s Google Play listings.
- Apps from unregistered overseas exchanges, including Binance, Bybit and OKX, are expected to lose new installs and updates, while about 27 registered domestic platforms such as Upbit and Bithumb remain available.
- Access via mobile web or APK sideloading will persist, but cybersecurity experts warn of heightened malware and phishing risks and a poorer user experience.
- With Android usage above 80% in South Korea, researchers say the change will have a practical blocking effect and likely channel activity toward licensed local exchanges.
- The distribution clampdown arrives as the National Assembly formalizes tokenized securities under existing law for a 2027 start, and some foreign firms consider partnerships or localization to maintain a presence.