Five crypto exchanges and one wallet provider have so far submitted their registration documents. Only Upbit has been formally approved by the FSC.
September 24, 2021Foreign VASPs that continue to target Korean customers after 24 September without registering with KoFIU will be subject to penalties in Korea.
July 23, 2021The extension is primarily being allowed to ensure regulators can process applications received before the 24 September deadline.
June 21, 2021The 'Special Financial Information Law' authorises Korean financial regulators to oversee the crypto industry and develop AML rules in line with the FATF recommendations.
March 11, 2020A bill passed by the national policy committee will subject digital asset businesses to penalties for not meeting FATF standards in their oversight systems for preventing money laundering.
November 27, 2019