South Korea VASP registration and AML regime takes effect
South Korea's amended Act on Reporting and Using Specified Financial Transaction Information took effect for virtual-asset service providers on March 25. VASPs serving Korean users had to register with KoFIU by September 24 and meet AML and information-security requirements, creating a six-month compliance transition that reshaped the exchange market later in the year.
South Korea's amended Act on Reporting and Using Specified Financial Transaction Information took effect for virtual-asset service providers on March 25. VASPs serving Korean users had to register with KoFIU by September 24 and meet AML and information-security requirements, creating a six-month compliance transition that reshaped the exchange market later in the year.
Material exchange-access/compliance stage that leads directly to September market restructuring.