South Korea Pushes Google to Police Access To Unregistered Crypto Platforms

• Google has blocked KuCoin, Poloniex, MEXC, and over a dozen other non-domestic crypto exchanges.
• India blocked Binance, Kraken, KuCoin, and others in January 2024.
• The U.S. and EU are unlikely to block crypto through enforcement actions as they bring into effect broad regulations.

South Korea has requested that Google block 17 overseas crypto platforms that authorities found to be operating as unregistered virtual asset service providers (VASPs).

The crackdown comes amid growing efforts from the nation to reduce fraud, scams and money laundering.

Google Blocks Crypto

South Korea’s Financial Intelligence Unit (FIU) has requested Google to block access to over a dozen unregistered overseas crypto exchanges, including KuCoin, MEXC, and Poloniex, as part of its crackdown on illegal trading activity.

According to the Financial Services Commission (FSC), Google has complied with the request . Starting March 25, 2025, users in South Korea will no longer be able to install or update the apps of these exchanges via the Google Play Store.

The move comes less than a week after reports surfaced that the FIU was preparing to take action against unregistered virtual asset service providers (VASPs).

This isn’t the first time South Korean authorities have taken such steps. In 2022, the FIU sought to block 16 foreign exchanges, working with domestic banks and payment firms to cut off access to crypto on-off ramps in the country.

South Korea has earned a reputation for its strict approach to crypto regulation, even forcing its largest exchange, Upbit, to suspend certain services.

The latest restrictions also mirror actions taken by Indian authorities, who blocked access to major crypto platforms such as Binance, Kraken, and KuCoin in January 2024.

More to Come?

While there’s nothing to immediately suggest that major regions such as the U.S. or European Union (EU) are going to follow in Korea’s footsteps and issue outright bans on non-domestic crypto exchanges via Google, changes are certainly on the way.

Though the U.S. didn’t block the likes of Binance and BitMEX for illegally operating as unregistered exchanges, its crypto policies were set to “enforcement mode” under the tenure of former Securities and Exchange Commission (SEC) Chair Gary Gensler.

In the EU, concerns that its sweeping Markets in Crypto Assets (MiCA) regulation could cause disruptions to the industry. The legislation does put a ban on anonymous crypto transactions, which affects hosted wallets and may indirectly place pressure on exchanges.

However, it seems there are no plans to outright ban crypto platforms in either the EU or the U.S. In fact, things appear to be trending away from shutdowns, years-long lawsuits, and costly courtroom dramas.