South Korea Tightens Digital Asset App Regulations

South Korea is taking a stronger stance against digital asset apps, with the Financial Services Commission (FSC) removing 14 cryptocurrency exchange platforms from the Apple App Store. The move follows a report by BlockBeats, which indicates these platforms are suspected of operating without proper registration as foreign virtual asset operators. This enforcement action comes in line with the Financial Intelligence Unit (FIU)’s continued efforts to block these platforms’ applications and websites to prevent money laundering and safeguard users from potential risks.