South Korea Blocks Unregistered Crypto Apps on Apple and Google Stores

South Korea has taken another firm step in its crackdown on unregistered crypto platforms, this time targeting apps available to Apple users.

The nation’s Financial Intelligence Unit (FIU), under the Financial Services Commission, recently ordered the removal of 14 crypto-related applications from the App Store.

These apps were reportedly operated by overseas crypto exchanges, including names like KuCoin and MEXC, that had not received the required local approval.

This move follows a similar enforcement effort in March, when the FIU worked with Google to remove 17 crypto apps from the Play Store for the same reason—lack of registration.

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In South Korea, any virtual asset service provider (VASP) hoping to offer services to local users must officially register with the FIU and comply with strict financial reporting laws. Violating these rules can lead to fines reaching 50 million won (about $37,000) or even up to five years behind bars.

Authorities say these removals are part of a broader effort to shut down unauthorized operations, reduce the risk of financial crimes like money laundering, and safeguard retail investors.

With both major app stores now involved, South Korea is sending a clear message: crypto platforms that ignore local compliance rules won’t be given access to the country’s digital marketplace.

Alexander Stefanov