At least 29 overseas virtual asset exchange apps can no longer be downloaded or installed from the Google Play Store in South Korea, according to an Odaily report citing Digital Asset. The report said one of the main reasons Korean users turn to overseas exchanges is to access futures and other derivatives trading, which is why the review focused on derivatives platforms.
Among the affected platforms, 14 had previously been identified by the Financial Intelligence Unit (FIU) under South Korea’s Financial Services Commission as unreported virtual asset service providers, or VASPs, and were referred to investigative authorities. The report also said another 15 exchanges were not included on the FIU’s investigation notice list, but their apps were likewise unavailable for installation through Google Play in South Korea.
The report did not name the exchanges involved. It only stated that the apps are currently unavailable for download and installation in the South Korean Google Play marketplace.
At least 29 overseas virtual asset exchange apps are currently unavailable for download and installation on the Google Play Store in South Korea, according to Odaily, which cited Digital Asset.
One of the main reasons South Korean users use overseas exchanges is to access futures and other derivatives trading, the report said. It added that the review therefore focused on derivatives platforms.
Of the affected platforms, 14 had previously been identified by the Financial Intelligence Unit (FIU) under South Korea’s Financial Services Commission as unreported virtual asset service providers, or VASPs, and had been referred to investigative authorities.
Another 15 exchanges were not included on the FIU’s investigation notice list, but their apps were also unavailable for installation on Google Play in South Korea, according to the report.
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