Google Play’s Crypto Crackdown: 17 Exchanges Blocked! You Won’t Believe This!

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So, Google Play, right? They’ve decided to play the role of the internet police and block access to 17 unregistered crypto exchanges in South Korea. I mean, who knew they were so concerned about our financial well-being? 🙄

On March 21, the Financial Intelligence Unit (FIU) of the South Korean Financial Services Commission (FSC) was like, “Hey, we might need to throw some sanctions at these operators who aren’t even bothering to report to us.” I mean, come on! It’s like not telling your mom where you’re going. You just don’t do that! 😅

These authorities want virtual asset service providers (VASPs) to report under the Specified Financial Information Act. Sounds fancy, right? But really, it’s just a way to keep tabs on the crypto wild west. 🤠

By March 26, the FSC dropped a list of 22 unregistered platforms, and guess what? They highlighted 17 that were getting the boot from the Google Play store. No new downloads, no updates—just a big ol’ “sorry, not sorry” to the users. Talk about a digital slap in the face! 😳

Google Play’s Big Block Party

So, the FSC is saying, “Hey, these 17 exchanges are now off-limits on Google Play.” No new users can download their apps, and existing users? Good luck getting updates! It’s like being stuck with an old flip phone in a smartphone world. 📱

Here’s the list of the culprits: KuCoin, MEXC, Phemex, XT.com, Biture, CoinW, CoinEX, ZoomEX, Poloniex, BTCC, DigiFinex, Pionex, Blofin, Apex Pro, CoinCatch, WEEX, and BitMart. If you’re keeping score, that’s a lot of exchanges getting the boot! 🥴

The FSC thinks this will help stop money laundering and save local users from future headaches. Meanwhile, the FIU is also chatting with Apple Korea to block these exchanges from the App Store. Because, you know, why not? Let’s just block everything! 🙃

KuCoin, in a classic move, said they’re keeping an eye on regulations everywhere, including South Korea. They claim compliance is key for crypto’s growth. But, of course, they didn’t spill the beans on what they plan to do about it. Typical! 🤷‍♂️

South Korea’s Crypto Drama

Now, let’s talk about the drama. South Korean regulators are cracking down on unregistered exchanges like it’s a reality show. On March 20, the Southern District Prosecutors’ Office raided Bithumb’s offices. Apparently, they suspect the former CEO of using company funds to buy a personal apartment. I mean, who doesn’t want a nice place to live, right? But come on! 😬

And then there’s this report about intermediaries getting paid to list token projects on Bithumb and Upbit. Upbit, in a fit of rage, demanded to know who these crypto projects are. It’s like a bad episode of a soap opera—everyone’s pointing fingers! 🎭

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2025-03-26 15:00