Google to require VASP registration for crypto exchange apps in South Korea

Google will now require cryptocurrency exchange apps to submit documentation proving they have completed their Virtual Asset Service Provider (VASP) registration with South Korea's Financial Intelligence Unit (FIU) to be listed on the Google Play Store, Digital Asset reported. As a result, exchange apps that fail to meet this requirement will no longer be available for new installation in the country starting Jan. 28. This raises the possibility that global exchanges such as Binance, OKX, and Bybit, which have not completed VASP registration in South Korea, could see their app support discontinued. In response to questions about its plans for VASP registration, Binance stated that the matter has not been discussed internally.