Binance and OKX Risk Losing Google Play Access

[bonk]

Major offshore exchanges like Binance and OKX are among the platforms most likely to feel the impact. South Korea requires exchanges serving local users to register with the FIU, a process that often demands a local legal entity, robust AML controls, on-site inspections, and Information Security Management System certification.

Despite Binance holding a minority stake in the local exchange Gopax, it does not operate a registered domestic entity, while OKX has previously faced allegations of operating without approval. Binance has acknowledged the policy change and says it is engaging with Google, warning that some users may temporarily be unable to re-download its app once the rollout takes effect.

[chainsniff]

regulation by app store gatekeeping is lowkey becoming the norm