Bybit’s trading app is no longer searchable or downloadable on South Korea’s Google Play Store. The reported change stands out because other foreign exchange apps, including Binance and Bitget, are still available for search, download, and updates in the same market.
Timing overlaps with Korea’s stance on unregistered foreign VASPs
According to the report, South Korea’s FIU said in January under the Specific Financial Information Act that foreign virtual asset service providers operating without registration are considered unregistered operators, and it advised Google Play to block downloads and updates of such trading apps. That restriction was not enforced at the time. Google had said earlier that internal issues were the reason. Bybit’s disappearance from the Korean Play Store now comes at a point when regulatory pressure on unregistered offshore exchanges has been tightening.
Existing users can still use the app for now
The immediate effect is straightforward. New Android users in South Korea are likely to face difficulties signing up for Bybit through the Play Store, while users who already installed the app and opened accounts can continue using it unless new restrictions are imposed. The report frames the development as part of a broader push by South Korean authorities to limit access to foreign crypto platforms that have not completed local registration.
No official confirmation on the direct trigger
There is still no official confirmation that FIU enforcement directly caused the app removal. The report says FIU may later clarify whether the move is part of its policy execution against unregistered foreign exchanges. If Bybit wants to keep serving customers in Korea, it would need to complete the required registration or obtain the relevant approvals under local rules. The report also notes that other overseas exchanges that do not comply with Korean regulations could face similar actions, while Google or related parties may issue an explanation on why the app was removed.