By order of the Korean government: Crypto applications 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 within the country. This step came as part of efforts to combat money laundering and illegal activities related to virtual assets ⚠️.

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

It is noteworthy that the Google Play Store had previously taken a step ahead of Apple, having removed 17 similar applications last March in response to the same request, resulting in a complete halt of downloads and updates for these applications ⛔.

According to FIU, unregistered platforms expose users to multiple risks such as hacking, personal data theft, and the use of platforms in illegal activities such as money laundering 💣🛡️. Korean law requires all foreign companies dealing with Korean citizens to register officially, especially when using the local currency or promoting their products within the country.

However, in the world of cryptocurrencies, despite the challenges and strict laws.