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Regulation

South Korea fines Google and Apple 63.7 billion won over forced in-app payments

South Korea has fined Google and Apple a combined 63.7 billion won over forced in-app payment practices. The penalty targets the companies’ requirement that developers use their proprietary billing systems. No further details on the breakdown between the two firms or the regulator’s specific findings were provided.

Original source

AI take

The significance here is regulatory precedent more than the amount: a national competition authority is pricing the cost of mandatory in-app billing, the mechanism that underpins app-store economics and, by extension, the fees that flow through mobile crypto and token wallets distributed via those stores. Developers of on-chain apps and wallet providers operating in South Korea are the most directly affected, since billing rules shape how they can monetize. With the split between the two firms and the regulator's specific findings undisclosed, whether this becomes a template other jurisdictions cite is the open question worth watching.

Generated by AI for reference only.

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