By order of the South Korean government: Crypto apps disappear from the Apple Store 🇰🇷

In a decisive move, Apple responded to a request from the South Korean Financial Intelligence Unit (FIU) and banned 14 cryptocurrency applications in the country. This step is part of efforts to combat money laundering and illegal activities associated with virtual assets ⚠️.

The ban targeted apps from popular trading platforms such as KuCoin and MEXC, due to their operation without official registration in South Korea, which is a violation of local laws 📵.

It is worth noting that the Google Play Store had previously taken a similar step, as it removed 17 similar applications last March in response to the same request, leading to a complete halt of downloads and updates for these applications ⛔.

According to FIU, unregistered platforms expose users to multiple risks such as hacks, personal data theft, and use of the platforms in illegal activities such as money laundering 💣🛡️. Korean law requires all foreign companies dealing with approximately 16.29 million users in the world of cryptocurrencies, despite challenges and strict regulations.